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Jim Sinclair: Technical analysis of gold market is a waste of time
12:27p ET Monday, May 6, 2013
Dear Friend of GATA and Gold:
Technical analysis of the gold market is a waste of time, mining entrepreneur and gold advocate Jim Sinclair writes today. He adds:
"The unanticipated result of the takedown of paper gold was to wake a sleeping elephant of physical demand from every other corner of the globe. The opinion of the operators is that if the gold banks can keep pressure on paper gold, the huge demand for physical will fizzle. The world outside of North America has recent memories of monetary situations exactly the same as now. They know that paper is in its final stage and gold is in a major ascendancy. Physical demand will remain strong, thereby overcoming paper gold and forcing paper gold exchanges to change their methods of delivery, clearly restricting paper to a secondary role and making its use to manipulate gold redundant."
Sinclair also recommends three videos on the subject. His commentary is headlined "Where We Are, Why Gold Was Bombed, and Why TA Is a Waste of Time" and it's posted at JSMineSet here:
http://www.jsmineset.com/2013/05/06/where-we-are-why-gold-was-bombed-and...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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