By Jim Sinclair
There has been a lot of good MOPE prior to the G20 event with gold above $1000.

1. IMF sales will never touch the gold market, but be absorbed by central banks seeking to diversify out of dollars.

2. IMF sales in the 1970s that had a market relationship via auction tranche sales took place in the conditions of a rising market.

3. IMF sales in the 1970s were credited with providing the means for major interests to enter the market in the 1970s by buying singular blocks of physical gold at one net price.

4. The value in dollars of IMF gold sales is peanuts at $13 billion when compared to at least $500 billion dollars remaining in Chinese reserves that are seeking diversification.

5. There is absolutely nothing new here from the July 27th IMF announcement as this vote after the US agreed in July was a foregone conclusion.

6. This is a repeat of the July 2009 releases which you know certainly did not stand in gold’s way. This won’t either.

To the gold long this is well timed pre-G20 MOPE that will not injure the trend of gold in any sense, nor will it improve the dollar’s weak position.

If you have questions for me on this or any other subject this weekend I have a special email address for you to send in questions. That email address is jimsinclair108@gmail.com.

Courtesy: JSMineSet