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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Jim Sinclair: Strapping in for the big move

By cpowell
Created 2010-09-08 03:52

11:57p ET Tuesday, September 7, 2010

Dear Friend of GATA and Gold:

For fearlessness, straightforwardness, and commitment, nobody in the gold world tops Jim Sinclair, the veteran trader and mining executive who runs JSMineSet.com as an financial education forum and, sometimes, as a handholding service for gold bugs at risk of losing their nerve.

Six years ago, as gold had been hovering around $400 for a year, Sinclair offered a great gift to his readers. He made an arrangement with Monex Deposit Co. (http://www.monex.com/ [1]) in Newport Beach, Calif., by which his readers could purchase and take delivery of 1-ounce Austrian Philharmonic gold coins with his guarantee that he would buy the coins from them at $400 a year hence if gold fell below that price. It might have been called the Sinclair put on gold.

Emboldened by the Sinclair put, a fair number of his readers, including your secretary/treasurer, took a bunch of real metal off the market and socked it away. They have tripled their money in six years, an average of 33 percent per year.

Tonight Sinclair again has put his money where his mouth is. In commentary headlined "Strapping in for the Big Move," Sinclair writes that, as in 1979, it is now time to go "throttle to floor" in gold -- and that he has done so himself, "committing 100 percent of all the cash I can accumulate to what I believe in." He expects gold to reach $1,650 by January 14, 2011 -- barely three months away.

He adds that if he's wrong with that prediction, he'll make another one -- that gold will be "much higher than $1,650 five months later."

GATA often has noted that those pursuing free markets in the precious metals are up against all the money and power in the world. But we do have Sinclair. To find his proclamation that the big move in gold begins now, visit JSMineSet.com here:

http://jsmineset.com/2010/09/07/strapping-in-for-the-big-move/ [2]

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



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Sona Resources Expects Positive Cash Flow from Blackdome,
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On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.

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Source URL:
http://www.gata.org/node/8989