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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Message: I hope you're right...I've put my faith in you Uncle Jimbo..
Posted: Jun 23 2009 By: Jim Sinclair Post Edited: June 23, 2009 at 4:22 pm
Filed under: In The News
Dear CIGAs,
The US dollar has topped all of its bear market rallies by up-slanting head and shoulder formations. It looks like it has done it again.
A low in June according to Armstrong is more meaningful than any other direction or time combination, indicating the high probability of the gold price trading at $5000. Alf holds out the possibility that an overrun in this leg takes gold to $3500. The reverse head and shoulders formation inverse to the US dollar reads $1270. I anticipate $1224 and $1650.
Click chart to enlarge in PDF format
Jim Sinclair’s Commentary
Green Shoots have turned out to be just more spin and BS. The greater mirage has been the US dollar rally on orchestrated hot air post G8.
IMF says dollar adjustment might be needed
06.22.09, 06:39 AM EDT
PARIS, June 22 (Reuters) - An increase in exports is needed for a sustained recovery in the United States and this may require an adjustment in the value of the U.S. dollar, IMF chief economist Olivier Blanchard said on Monday.
‘For the US, it is absolutely no question that a sustained recovery has to come from a large increase in exports, that may not be very easy to do. This may require fairly substantial adjustments in the dollar,’ he told a conference.
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