My Dear Friends,
I have just had the pleasure of seeing one of our associates arrive from Africa.
Because of meetings here, today’s work will be somewhat abbreviated.
Stay the course!
Regards, Jim

Click chart to enlarge today’s hourly action in Gold in PDF format with commentary from Trader Dan Norcini

Jim Sinclair’s Commentary
Please read the following:
Bloomberg brought this on by a suit for freedom for information for which we are all grateful, but their reporting on it takes the award for the least words about anything.
Reuters is somewhat more forthcoming.
Please keep in mind any agency or bank fighting to hide figures has something really awful [...]

Jim,
That’s enough analysis for me today, but I had to comment on your posting…
"All of this occurred in 1932 exactly the same way it is happening now." The words of a man that understands.
Time and price is more consistent with 1942, but debt liquidation and savings rate changes from 2000 to 2009 do not reflect [...]

Thoughts For The Day:
The FDIC decision to set high thresholds for private equity to buy banks will result in a decrease on what private capital will pay for busted banks. If private money can’t bid up the price, then the regular buyers of busted banks, if there are any left, will make lower bids that [...]