GATA: Having called plunge, Grandich and Davies jump back in; Sinclair says: Relax!
By Chris Powell | GATA | 8:29a ET Thursday, May 5, 2011
At 11:33a ET today Peter Grandich of the Grandich Letter, who had called the plunge in the precious metals exactly, announced that he had returned to being fully invested in them:
http://www.grandich.com/2011/05/time-to-go-back-in-gold-1481-silver-35-7…
Tonight in an interview with King World News, Hinde Capital CEO Ben Davies, who had also called the plunge exactly, reported that his firm had covered its hedges and was getting back into silver too. “This is the start of a great opportunity to accumulate silver,” Davies said. “All the key fundamental issues in the world have not gone away, nor those specific to silver, such as the fact that it is under-owned and short of supply in the medium-term.” An excerpt from that interview can be found at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/5_Ben…
And at 2:22p ET today the dean of gold traders, mining entrepreneur Jim Sinclair of JSMineSet.com, wrote that the plunge is only proof that gold will make a major move upward in June. Sinclair’s advice to the friends of gold and silver was simply, “Relax”:
http://jsmineset.com/2011/05/05/the-foundation-for-gold-at-5000/
KWN Interview: Hathaway - Gold & Silver to Explode Again After Consolidation-
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