Sinclair calls $1764 gold major turning point

derryb · July 27, 2011 11:37AM

"$1600 in gold is simply another round number which will create drama, but no opposition to the increasing price. Nothing additional is required for a higher price of gold. The damage is done. The debt of the entire Western world is beyond out of hand. The so called solution, just like raising the debt ceiling, will be acts of kicking the can down the road. We have come to the end of the road. The result of no financial discipline anywhere in the Western world is unfolding. Gold will challenge $1764 where a hyperbolic price appreciation will start."

Raising The Debt Ceiling Does Not Fix The Problem

MilesWaits · July 27, 2011 12:12PM

I think the lack of replies reflects the shock and awe postion we are in with regards to Sinclair's increased respect/street cred.

Miles

OnlyGoldIsMoney · July 27, 2011 1:00PM

What is so important about $1,764 as opposed to $1,750 or $1,760

jmski52 · July 27, 2011 1:03PM

Sinclair knows quite well how the government markets and the finance markets work - his insights are as good as Richard Russell's and more valuable than most everyone else's.

Of course, this forum does pretty well for itself too.

Added: $1,764 is just a number, much like $1,650 is just a number. $850 gold seems like just yesterday, and yet I remember when people in the Coin Forum scoffed at that possibility.

Things are happening faster than most people realize.

derryb · July 27, 2011 1:15PM

<< What is so important about $1,764 as opposed to $1,750 or $1,760

>>

I'm sure it's a landmark on his top secret personal chart.

cupronik · July 27, 2011 2:25PM

What does Dave Ramsey have to say?

GRANDAM · July 27, 2011 2:39PM

<< What does Dave Ramsey have to say? >>

-----------------------------------------------------

Dave Ramsey is ANTI-GOLD

He says with the exception of the last 5 yrs gold has been a bad investment.

Thing is this ain't 5 yrs ago........

GrandAm

ocon4008 · July 27, 2011 7:21PM

<< Calling increasing the debt ceiling a solution to a debt problem is too stupid to be stupid. >>

Great line; Sinclair for Secretary of Treasury.

roadrunner · July 27, 2011 9:28PM

<< What is so important about $1,764 as opposed to $1,750 or $1,760

>>

Sinclair's key gold levels (ie angels) have been rising in an exact numerical sequence since $1024 gold when the first add-on number was $65 ($1089). The last
angel was $1600 and was $79 higher than the previous one. Next one is $81 higher ($1681). Then comes $1764 (+$83). As to how he determined this
sequence, I have no clue. So $1764 does have more importance to him than $1750. In the end, I don't $14 makes all that much difference.

Sinclair was once on the short list for potential Treasury Secretary candidates. At least that's what he has stated.

roadrunner

cupronik · July 27, 2011 11:21PM

"Dave Ramsey is ANTI-GOLD." Boy, you got that right! I think he personally hates gold.

He wouldn't have you buy it at all, not even at $300. back in 2001.

Many establishment people have always thought gold & silver lie outside the box when it comes to investments (increasing one's wealth.)

OPA · July 28, 2011 1:14AM

He's late in his prediction....G.S. predicted $1750 gold by 2012 in 12/2010...

Goldman Sachs

jdillane · July 29, 2011 2:16AM

Sinclair offered $1MM wager in 2008 that gold would hit $1650 by Jan 2011. Did anyone take him up on the wager?

OnlyGoldIsMoney · August 8, 2011 12:15PM

Sinclair must be smiling tonight.

We're getting mighty close to $1,764. Its $1750 as I write.

roadrunner · August 8, 2011 12:20PM

<< Sinclair must be smiling tonight.

We're getting mighty close to $1,764. Its $1750 as I write. >>

I think JS began smiling when that darn 10 yr $1650 prediction was finally hit. He took a lot of grief the first half of this year when it didn't hit that # by his precise
target date of January 14th. 7 months later it doesn't matter. Now he looks like a genius especially after calling for a rare summer rally. Other than James Turk,
I don't know anyone else who called that so far in advance. Most of the pundits (me included) were looking for another low in July/August.

roadrunner

Wolf359 · August 8, 2011 12:48PM

Sinclair talked about Jesse Livermore's 1923 Square of the Numbers formula. 1764 means confidence has been lost. That is the point of no return.

Here is the Interview from 8-7-2011

OnlyGoldIsMoney · August 8, 2011 1:00PM

<< Sinclair talked about Jesse Livermore's 1923 Square of the Numbers formula. 1764 means confidence has been lost. That is the point of no return.

Here is the Interview from 8-7-2011 >>

OK. $7 and change to lift off.

secondrepublic · August 8, 2011 1:06PM

All I can say is WOW. These are some real interesting times!

Coins101 · August 8, 2011 1:08PM

APMEX = $1763.90

Slid a little but now $1766.66 @11:04

Overdate · August 8, 2011 1:23PM

Now $1768.

$1764 is 42 squared.

The number 42 is cited in the Hitchhiker's Guide to the Galaxy as the answer to the ultimate question of the universe.

Now you know why a gold price of $1764 is so important.

cohodk · August 9, 2011 6:08AM

Sinclair calls $1764 gold major turning point

Interesting is the term "turning point".

I wonder if we will revisit this thread in 6 months.

renman95 · August 9, 2011 6:20AM

<< 

<< Sinclair must be smiling tonight.

We're getting mighty close to $1,764. Its $1750 as I write. >>

I think JS began smiling when that darn 10 yr $1650 prediction was finally hit. He took a lot of grief the first half of this year when it didn't hit that # by his precise
target date of January 14th. 7 months later it doesn't matter. Now he looks like a genius especially after calling for a rare summer rally. Other than James Turk,
I don't know anyone else who called that so far in advance. Most of the pundits (me included) were looking for another low in July/August.

roadrunner >>

I know I would be smiling if I made the prediction 10 years out, say August 2021, that gold will be $9,150 and it actually hit that in December of 2021.

I don't even know if we will have the "dollar" in 2021.

OPA · August 9, 2011 6:24AM

Gold lost some ground since it's high of $1780, but did manage to close at $1745. Hope Sinclair did not mean a downward trend for his turning point preddiction.

57loaded · August 9, 2011 6:39AM

possibly he means a more parabolic chart line?

we are out (up) of Armstrong's primary channel right now.

i still see some big correction a commin' this fall, possibly tied to a belief that the sovereign debt crisis has a solution (what that is i haven't a clue).

yes i am a MA groupie!

OnlyGoldIsMoney · February 22, 2012 2:19AM

$1764 again. Lets hope it holds this time.

Justacommeman · February 22, 2012 3:26AM

<< $1764 again. Lets hope it holds this time. >>

It looked like a lot of technical buying came in right here. MJ

roadrunner · February 22, 2012 4:04AM

<< 

<< $1764 again. Lets hope it holds this time. >>

It looked like a lot of technical buying came in right here. MJ >>

Yeah. $1760-$1763 has basically held gold at bay for the past 3 weeks. But today it offered zero resistance once $1763 was touched. Note that silver did not follow. Gold, plat, pall are leading while silver and copper lag.

mhammerman · February 22, 2012 4:25AM

...NSU

MilesWaits · February 22, 2012 5:33AM

When technicals alone aren't enough, there remains Syria, Iran, Credit Swaps, Dollar Swaps, Spousal Swaps, Runaway Budgets, The Runaways, Europe...............

What have I missed that is a driver for Gold??

Miles

derryb · February 22, 2012 5:54AM

<< When technicals alone aren't enough, there remains Syria, Iran, Credit Swaps, Dollar Swaps, Spousal Swaps, Runaway Budgets, The Runaways, Europe...............

What have I missed that is a driver for Gold??

Miles >>

the FOMC helps drive it down. And don't forget M2, it has always been a good long term indicator:

leothelyon · February 22, 2012 12:03PM

Gold jumps $40 and silver jumps 40 cents. Silver needs to jump $4 to keep pace with last year or people are going to have other ideas.

Justacommeman · February 22, 2012 12:35PM

<< Silver needs to jump $4 to keep pace with last year or people are going to have other ideas. >>

You lost me. MJ

NumbersUsacom · February 22, 2012 2:30PM

<< Gold jumps $40 and silver jumps 40 cents. Silver needs to jump $4 to keep pace with last year or people are going to have other ideas. >>

Like what?

They take turns leading the pack, Gold runs and Silver lags and then Silver runs and Gold lags. Back and forth, when they cross the finish line then we can find out which
had the greatest percentage gains. I put my $'s on Silver.

OnlyGoldIsMoney · February 22, 2012 10:04PM

<< 

<< Gold jumps $40 and silver jumps 40 cents. Silver needs to jump $4 to keep pace with last year or people are going to have other ideas. >>

Like what?

They take turns leading the pack, Gold runs and Silver lags and then Silver runs and Gold lags. Back and forth, when they cross the finish line then we can find out which
had the greatest percentage gains. I put my $'s on Silver. >>

Well said. I have placed bets on both horses - so its a win-win. Silver approaching $35 makes it a great day so far.

leothelyon · February 22, 2012 11:10PM

It does appear silver hit $35 this morning. Suddenly, $50 silver doesn't sound too far off.

ricko · February 23, 2012 1:15AM

Interesting trend of late, I have no idea if it will continue, or, more importantly, will it hold. Well, I am holding

and will continue to do so, since I am not qualified to foretell the future.. Cheers, RickO

Baley · February 23, 2012 2:00AM

approaching high ends of trading ranges, looking for resistance low $1800's gold, around $38 silver.

then back on down below $1700 and $33 several weeks later.

Sinclair calls $1764 gold major turning point

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