Tuscaloosa News – IT’S a splendid spring day in Connecticut’s horse country and James E. Sinclair, perhaps the best-known gold speculator of his era, is sitting before his trading terminal,contemplating the upward thrust of gold on his trader’s chart.<\/p>\n
The sun, bursting through the bay windows, catches the glint of gold that is everywhere in Mr. Sinclair’s home office: on the coins near his computer, on his chunky Rolex watch, on the rings on threeof his fingers, on the cuff links on his monogrammed shirt, and could it be? a hint of it in his one working eye.<\/p>\n
“I love gold, O.K.?” he said, his voice rising in excitement. “Gold has made me wealthy. It feels nice. It’s exchangeable. It’s money.”<\/p>\n
On his television set, which is tuned to CNBC, news breaks of a terrorist attack in Egypt, the price of oil pushes higher and traders continue to sell the dollar, which is approaching a one-year lowagainst the euro.<\/p>\n
With gold trading at $683.80 an ounce, a 25-year high, it’s a good time to be a gold bug like Mr. Sinclair, especially if, like him, you own a gold exploration company (his is in Tanzania) and were abuyer when the metal sank as low as $250 an ounce in 2001. Now Wall Street, traditionally a laggard when it comes to making the investment case for gold, has jumped on Mr. Sinclair’s bandwagon.<\/p>\n
Investment banks like J. P. Morgan and Goldman Sachs are putting out bullish research notes, retail investors are heavy buyers through exchange-traded funds and hedge funds; and the trading desks ofinvestment banks have been piling into the market, especially in the last week. Tuscaloosa News – IT’S a splendid spring day in Connecticut’s horse country and James E. Sinclair, perhaps the best-known gold speculator of his era, is sitting before his trading terminal,contemplating the upward thrust of gold on his trader’s chart. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4386","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4386"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4386\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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