Saturday, December 22, 2012

Sinclair incandescent – biggest manipulative play in gold ever

Jim Sinclair is a legendary equities trader, especially in the mining sector.  He was also one of the few to call the bottom in gold a decade ago against a chorus of skepticism, when gold was trading at under $300 per troy ounce.  His price target back then was $1650, which is where it is today.  His next target is $3500--and above, depending on the devaluation of the USDollar and its loss of status as the global reserve currency.  He could be wrong in this next bold prediction, but I am not betting against him.

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