It wasn't a case of "if" but a case of how bad.

Now that this is out of the way; China will be back and the gold price should return to favorable territory for the sale of Tyhee.

Hopefully no foolish commitments were made during this very predictable raid on the gold price. Fortunately (for the survivors) the madness which is coming will be relatively short lived.

P.

Posted October 12th, 2016 at 9:41 AM (CST) by Jim Sinclair & filed under Jim's Mailbox.

Bill and Jim,

I am sure the turn around on gold below the $1,250 – $1,275 level on Friday has not been lost on you two since you are much closer to this than most of us.

Andy Mcquire, in his October 6th commentary on King World, mentions $1,275 as the price where there is 1,000 tonnes of naked shorts on gold on the Comex that need an opportunity to cover their bad bets.

And then we have Goldman Sachs saying that gold should be purchased below $1,250 as a “strategic” buying opportunity the following day.

Add to all of this that the smash happened when China was out of the market ALL WEEK for a national holiday and you have the makings of some interesting fodder for the gang on the phoney COMEX casino to get some major “work” done to help members of the club cover their rear ends before a major upward move in gold and silver.

With all this going on, along with the Obama administration blaming Russia for all the ills of the world in their attempt to distract the public from what is really going on, next week could be EXTREMELY interesting.