From Sinclair this evening...
posted on
May 10, 2011 11:46PM
“The recovery in silver, the fact that it got plowed down, but its character now seems to deny the recent break, I think silver is acting very, very well and as previously stated, I don’t believe we’ve seen a top in silver yet.
When asked about gold specifically Sinclair stated, “$1,764 is calling on gold now and the market is reacting to it. It is calling, it is the magnet pulling most heavily on gold right now.”
When asked about the shares Sinclair had this to say, “I know what kind of money these companies are going to make. I understand what kind of cash flow that can be generated from this type of price on gold. There is no way on earth at this point that the hedge funds (short miners) are going to be correct. In fact they are the ostriches with their heads in the sand. No share will remain under pressure of a hedge fund when it begins to put out the type of cash flow that the price of gold now will result in.”