by Jim Sinclair, JS Mineset:
My Dear Friends,
Gold has had a historic amount of negative print and airtime this week. The Yamana and Armstrong comments seem timed perfectly to kick the legs out from under gold. The price of the US Dollar seems to have forgotten it was at .7900 only 11 weeks ago.
The dollar has risen because the Euro collapsed 1000 points from 1.3600 to below 1.2600. This collapse of the Euro is due to the serious sanction’s impact on Europe which have not significantly damaged any US financial interests. On the contrary, anti Russian sanctions have tipped Europe into recession. Draghi has been trying to talk the Euro lower for trade reasons, but his power is only words as QE there is more than likely against their constitution. This will decided soon.
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