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« SK OptionTrader Subscribers Enjoy 71.58% Profits in 43 Days | Main | Hopes rise for Greek debt deal »
Saturday
Jan282012

Hedge Fund Guru Sees Gold Price Soaring

The following is a piece from from Jim Sinclair a day or so ago, who is the host of a web site called Jim Sinclair's MineSet in our humble opinion its well worth the time spent on reading what he has to say. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them.

DAVOS, Switzerland—In the current uncertain environment, one hedge fund guru is in no doubt where investors should put their money – gold.

The fund manager, who wishes to remain anonymous, was unequivocal in his belief and was bullish on the longer-term outlook for the value of the precious metal: “Thousands of dollars per ounce,” he says. “Thousands.”

By the end of 2012, he sees the price of gold at between $2,000 and $3,000 per ounce. Even the bottom end of that range would represent a handsome gain. On the New York Mercantile Exchange Thursday, gold was trading at $1,726.10 per ounce.

“Gold is at the intersection of money trends,” says the hedge fund boss. “The only non-fake money is gold.”

The investor says there are lots of ways to get low-risk exposure to gold if there is a sustained loss of confidence.

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Regarding www.skoptionstrading.com. We are off to a good start with our three positions showing profits of 62%, 26% and 2% on Wednesday, moving higher on Thursday to show profits of 67%, 30% and 6% respectively.

So on Friday we closed two of these trades, the first gave us a profit of 71.58% and the second gave us a profit of 33.97%.

Its nice to bag a couple of winners before January is out and hopefully 2012 will continue in a successful manner. We do have a number of ideas on the drawing board which we are looking to execute shortly, but only when the risk/reward environment is firmly in our favour.

Please be aware that discussions are taking place regarding an increase in the price for this service for new members, so if you are thinking about joining us, then do it sooner rather later in order to avoid this additional expense. This price increase will not affect the current subscribers whose subscription will remain unchanged.

Our performance stats have now been updated as follows:

Our model portfolio is up 446.55% since inception

An annualized return of 98.38%

Average return per trade of 36.68%

96 completed trades, 88 closed at a profit

A success rate of 91.67%

Average trade open for 50.48 days

 Also many thanks to those of you who have already joined us and for the very kind words  that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. Winners of the GoldDrivers Stock Picking Competition 2007  

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our  Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here. 

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Reader Comments (2)

On the gold issue I may be a contrarian. If something sounds too good to be true well.......
A cache of metal in a quantity one can afford makes sense but I wouldn't bet the farm
Unless you can watch it all day every day. I wonder what the miners' stocks will do when the gold price soars?
John

January 29, 2012 | Unregistered CommenterJohn Ell

Hi John,

First up is you are right and it would need constant monitoring via a new vehicle such as a newly formed company or a fund.

Secondly, the mining stocks, we are not as bullish as our peers as the stocks should be rallying with gold prices as high as they are, however, they are range bound between 500 - 600 on the HUI. This is not 1980 and the choice in terms of gaining exposure to this bull is much wider than it was then, so cash can be deployed without it going into stocks.

Without 3 or 4 to1 leverage against the gold price, we do need to ask - Is it worth the risk?

At the moment we don't think so.

Have a good one,

Bob

January 31, 2012 | Registered CommenterGold Prices

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