From Jim Sinclair:
"Dear Extended Family,
"There is a certain extremely important market reality that must be kept in mind as you listen to all the bearish gold predictions.
"What is good for the dollar is bad for gold.
"This is wrong because it depend what dollar related factors are giving a positive dollar price action.
"If the good for the dollar was strong US economic activity, sound balance sheets in the US financial industry and a US consumer ready and credit able to expand, the answer would be yes if these activities were for the long term
"That strong dollar would not be good for gold.
[click over to Jim's site for the rest of a great letter.]