"If you do not see the hand of intervention in the gold market early this morning you are either wearing welders gear or are simply inept in this field.
Like the euro intervention being useless in the grand scheme of things, so is the gold intervention this morning.
Above $1224 the manipulators will lose their influence in the price of gold. We sure witnessed that last US night in the euro.
The real numbers now that you will not hear on F-TV are $1.19 and then $1.10, below which the euro will collapse. This will return us to the dark ages in Forex, but will be good for the business of Forex trading.
With regards to our newest sovereign problem, if you were Hungarian would you prefer to own gold or paper of any kind? That is assuming you had any money in the first place to buy gold."
- Jim Sinclair, of JSMineSet.com