Jim Sinclair today stated that the current sell-off sets the foundation for $5,000 gold. Sinclair also yesterday stated that we have not yet seen the highs for silver as well. $5,000 gold implies silver at $312.50 even if it only reaches the historical average of 16:1, much less if silver overshoots this ratio, which we believe it will.
Stay the course, and for goodness sakes, BTFD!
From Jim Sinclair:
Dear Friends,
Simply stated, the drop at this time will in retrospect be seen as the foundation for gold trading not at $1650 but rather at $5000.
Armstrong was right and wrong. He looked for a reaction in gold at a time it would not happen, to a price that simply did not and will not occur.
He is absolutely right that as June approaches this type of action is the foundational proof of a major move in gold coming out of June and continuing with the normal drama into 2015.
Relax!
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Relax he says. I was just getting ready to have a yard sale with all my gold and silver bars 10¢ each.
10¢ each? selling your gold and silver at a 1:1 ratio, huh? lol…let me know when your yard sale is happening! Might as well have a community sale!
Im in it for the long term. Im so relaxed im about to nod off. This was only to be expected after the historical climb with no correction.