gold set to run .. jim sinclair

"Today’s feature event is the non-event of the unchanged Federal Reserve Discount Rate. To come is the commentary and identification of who voted for what. The US dollar is slipping based on the assumption the Fed is only posturing with the previous anti-inflation talk. It also appears as if confidence is dropping in a Fed Chairman who says the rather outrageous statement that he is fighting inflation by deflating himself. That is possibly the worst piece of PR I have ever seen emanating from a Federal Reserve Chairman. It is good that the Fed has been acquired by the US Treasury in a friendly take over.

The details of the meeting are now out and that is more unchanged than the previous.

It looks like a carbon copy meeting. The US dollar is continuing to fade.

It is amazing to see the shorts in gold and some selected gold shares resorting to stealth and papering the internet in order to make cover that was in danger of being crucified on the formational break out of 10 trading days ago.

I would tend to say that gold still can make the $685 - $750 move here and now but, IMO, if not now will after the first week of January."

From Jim Sinclair's MineSet website.

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Now appears to be the time to load up and top up on good gold producers, emerging producers and selective specs. See below.