March 27, 2013; near term gold catalyst? A possible near term positive gold catalyst is the March 27th key federal fiscal deadline, to pass a continuing resolution to fund government spending.
The House of Representatives delayed until March 27 approximately $109 billion in across-the-board spending cuts originally scheduled to take effect on January 2, 2013.
Congress must also address fiscal year 2013 appropriations to prevent a federal government shutdown before the current continuing resolution expires.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Jim Sinclair writes ------
My Dear Extended Family, You want dates? Ok. The bet on the short of gold side is that the Sequester takes place.
I have felt that the gold market's longest period of reaction possible would end on my birthday, March 27th. That puts it directly in place of this wager in time. Regardless of whether or not Sequester occurs, I stand by this timing assumption that I have held since this decline started.
Many who I know and asked me in private know this statement to be true. I know that this is read by just those that are at the heart of this decline.
The earliest date of the end of the decline is the 28th of February and the longest period of pressure is until the 27th of March. Thereafter gold is released to the upside which will be a minimum of $3500. -------. Jim Sinclair