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After $1,764 gold will go parabolic says Jim Sinclair
Posted on 08 August 2011 with 4 comments from readers
Gold is going to be the biggest winner in the upcoming global financial crisis says Wall Street legend Jim Sinclair, the world’s most famous gold trader.
Speaking before the spectacular S&P downgrade of US debt on Friday night, Mr Sinclair said $1,764 an ounce is the number to watch for gold. After this level the price will go exponential, that is to say up in a vertical line.
With gold close to $1,700 an ounce this morning and climbing fast that magic number does not seem far away.
Posted on 08 August 2011
Categories: Banking & Finance, Global Economics, Gold & Silver, Investment Gurus, Video Channel
4 Comments posted by readers:
It’s $1,755 right now at 8:40 Pacific Time, should be interesting to see if he is right or wrong.
Ed Note: Just saw $1,768, so strap yourself down for the rocket ride up!
First we need to build a base at 1764 which then becomes the new support for gold.
Gold will increase definitely. JP Morgan predicts $2500 per OZ by the end of the year. QE 3 is coming. Buy gold.
1764 for a while so where us the Parabolic, so much for that
Ed Note: Wait for it, parabolic can happen over 18-24 months, not just a few weeks!