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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	1/23/2006 9:42:39 PM
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Big Diamond Jim is hot tonight: General Editorial Monday, January 23, 2006, 8:00:00 PM EST Gold and Dollar Market Summary Author: Jim Sinclair The immediate future of gold will be resolved shortly as the fight between the Titans is clearly under way. There are no Gold Community traders battling this one out. They are either too small or too committed in shares and therefore in a practical sense are only bystanders posting on chat groups. The commercial shorts are being tested to a greater degree than ever before. The "new-be" funds in gold are showing themselves to be less professional than some one interested in gold as a result of a cold call. It has to be embarrassing that these so-called professionals publicly handle their affairs so poorly. On the buy side at this point in time is Asia and that is big-big. The real battle is between the Titans of Asia versus the Commercial Shorts and it has been thus since early December. The number in the mind of the Asian Titans is now above $600. The number plaguing the shorts is the two hits in the area of $544.87 on which Asia gave the shorts an immediate spiritual experience. A quick look at the daily chart that I posted today will reveal how the longs have nailed the shorts just when they thought they had won twice in a major way since December. The last was the most spectacular when the longs ran on one day every short to major intra-day losses. Back came the shorts and today once again the longs nailed them. This is a major battle which has the capacity to play the round number game - this time at $600. The "top callers" are out in numbers today and one day they will get a reaction of more than two weeks. They will then claim to be your saviors, having told you there would be a temporary top every day since it traded off $248. Those that have been sponsored by the Gold Community make me sick as they are no friends to the Community or themselves. No one knows for certain when a top will set in for a short term reaction. The market knows and will certainly tell you if you use the simple tools I have given to you. So why not use them! The price of gold sits on a few explosive possibilities: The Iranian situation is extremely dangerous economically and politically. China and Russia have large investments in Iran and will support Iran’s interests. Iran is making fun of the West, perhaps trying to goad it into action. France's Chirac did not speak of the use of nuclear weapons against terrorists for political reasons as some might want you to think. What he did was to plow the road for the US to surgically bomb Iran with deep penetration nuclear weapons. Israel cannot risk a nuclear capable Iran. Now Israel is using restraint because they know the US will handle the matter for the same reason Israel stood aside before while Scud missiles met Patriot missiles in thedefense of Israel. UBS, one of the world's biggest banks, yesterday confirmed it had stopped all business dealings with Iran, advising clients to seek alternative banking arrangements. Who cut ties with who is the real question? Iran is moving out of the euro and Europe and not into dollars. So this brings up the conundrum of what is in fact the reserve currency of choice. It should be kept firmly in mind that the gold-starved Muslin central banks are devoid of the currency of choice (gold) according the Koran. My position is that they won't be for long. The replacement of the aging Monarch of Kuwait is accompanied by an unclear order of succession. Sources say this will cause significant delay in the re-entrance of international oil and oil service companies back into Kuwait who were booted years ago. That in turn means the expansion of Kuwaiti production facilities will not occur. All that is in the face of strong indications the Kuwaitis have been lying like bandits about their oil reserves. Any cause for delay of the return of international oil and oil service companies serves as a plausible denial for their lies concerning their reserves. The Spratly Islands undersea oil and gas discovery is being claimed by China although it appears to belong mostly to Japan. Japan is an ally of the US. The US has stationed a nuclear carrier at a Japanese port. This is an anomaly with great meaning. This farce of who owns what is moving quickly towards force. jsmineset.com

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