Shaky nerves about gold? Jim Sinclair has something to tell you

10:37a ET Sunday, September 28, 2003

Dear Friend of GATA and Gold:

Jim Sinclair argues that nothing much happened in
gold last week except perhaps for the panic of some
gold shareholders. In his Saturday commentary,
quot;Saturday Coffee and the Gold Market,quot; he writes:

quot;All that's happened so far is that gold touched the
overbought top line of its up channel and when it
backed away the Cartel jumped on it with Morgan
as the lead seller. Seeing it being hit right under that
technical analysis level, the gold traders also jumped
on it, creating a shark-feeding type of selling which
followed through the next day.

quot;Buyers moved in on the oversold side and it went out
at the close having hit both sides in two trading
sessions. That means gold is displaying the character
of outrageous volatility, which is exactly what happened
in the late '70s as gold approached $400.

quot;It means to me much higher prices are coming this year
just like it did when that happened in the '70s. It also
means that leverage in gold is not for the majority of the
gold crowd.quot;

You can find this Sinclair commentary here, at the bottom
of his home page at this hour:

a href=http://www.jsmineset.comhttp://www.jsmineset.com/a

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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