Sinclair has just concluded that this current correction is over while simultaneously increasing his gold price target for next January to over $1764.

Dear CIGAs,

The Angels are moving targets that are refined with each market reaction. Their change is miniscule but we account for it. That fact that $1224.10 was the cash high and the fact that the $1080 area worked reasonably well has lit up $1764 even brighter than $1650.

I therefore conclude that gold is definitively going to $1650 with an overrun to $1764 prior to a reaction before it moves to higher prices on or before January 14th, 2011.