HSL / Newsletter Sample
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Le Metropole Cafe
5 rallies & 4 corrections. Because each rally bettered the prior rally by a mere $5, it discouraged gold followers from placing big bets. Yet the uptrend has prevailed. Odds favour its continuation. A break below 395 would shatter that & test lows in the 380’s (see gold in Back to the Futuressection for buy/sell tactics on
handling both breakouts & breakdowns as a guide for shares & futures).
reported this in Gold Charts R Us, but I must report it in HSL also,
as not all Hslms get GCRU. Here’s an interesting letter:“Dear
Uncle Harry, Whatever happened to the commercial banks' gold derivatives issue?
Did it go away; is it still there? 2yrs ago there was talk (from
Jim Sinclair, etc) of a crisis if gold went above 350 (or 360, 370,
etc), but nothing seemed to happen. It would be good to have a post
mortem comment from U on this. Best wishes, FW, London, GCRU & HSL/FMU subscriber.” Dear FW, Good question. I don’t have a final
JS originally put out the theory some mines/banks
would hit trouble with gold at these prices. But they haven’t.
believe the answer is partly the mines have bought back much
or most of their derivatives. 2nd, govts may have quietly bought
up some of these derivatives to avoid bank/mine closures.