Jim Sinclair - Gold Milestone at $1,764 Paves Way to $12,000

Keep stacking the phyzz... You will be wealthy. Gold/silver is money and nothing else.

Sinclair’s father Bert Seligman was business partners with legendary trader Jesses Livermore. Keep in mind Livermore’s saying as we move through this bull market, “Men who can be both right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.”

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Jim Sinclair - Gold Milestone at $1,764 Paves Way to $12,000

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/15_Jim_Sinclair_-_Gold_Milestone_at_%241%2C764_Paves_Way_to_%2412%2C000.html

With gold hitting new all-time highs yesterday in dollars, euros and pounds, today King World News interviewed legendary trader Jim Sinclair and Dan Norcini to get their take on where things stand in the gold market. When Sinclair was asked about the action in gold he stated, “Gold at $1,764 is as important as gold at $524.90, and above $524.90 the gold market went into a runaway. It’s the exact same setup at $1,764, but having said that $1,764 should bring in some significant supply.

However, a move above $1,764 would be the equivalent of $524.90 in the sense that you would go from the runaway that was born at $524.90, into a hyperbolic market. The key to all of this is $1,764 and you will go above that level, but what that does is lock in five figures on the price of gold. A move above $1,764 brings into focus prices as high as $12,000, so we are are approaching the most critical milestone in the entire gold bull market.”

Sinclair continues:

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