Gold's hundred-dollar days start by year-end, Sinclair tells KWN

Submitted by cpowell on Wed, 2010-12-01 16:20. Section: Daily Dispatches

11:16a ET Wednesday, December 1, 2010

Dear Friend of GATA and Gold:

Interviewed by Eric King at King World News, gold mining entrepreneur Jim Sinclair sticks his neck out again. He says that the hundred-dollar days of gold trading of which the Tocqueville Gold Fund's John Hathaway spoke to KWN the other day will begin by the end of the year. Sinclair adds that once the euro is wrecked the wrecking of the dollar will begin. You can read excerpts from the interview at the King World News blog here:

>http://bit.ly/hPd8XE

Ed Steer today thanks to GWR…

Does the COMEX Have a December Silver Delivery Problem?

…I don't think its too much of a stretch to speculate that the reason that there have been no big deliveries so far in December, is that there is no silver available to deliver. But is the Comex in default? Was the big withdrawal from SLV about ten days ago, Comex bound for the December delivery schedule? These are very important questions that scream for answers.

…the last sales report from the U.S. Mint in November pushed silver eagles sales over the 4 million mark for the first time in history. The exact total for November was 4,260,000 silver eagles. And that, dear reader, is a phenomenal amount.

Jim Sinclair Gold

Many countries are experiencing rising inflation, and in order to cope they are adding to their store of gold bullion. India, Russia, and China have recently added to their gold reserves. For example, last month Russia added 600,000 ounces to their national inventory. Russia now holds about 25 million ounces.

Even though gold prices are up 20% this year, Indian consumers have bought more gold than they did in 2009. Many observers had felt that as prices rose Indian demand would fall; this has not proven to be the case.