Any time you make a prediction, especially when you are one of the "experts" in the market, you inevitably set yourself up for ridicule should it fail to pass.

Sinclair made his prediction 7-8 years ago, when the sentiment for gold was almost non-existent. Although he missed his target, I give him credit for standing by his conviction for all these years and including through some anxious times, including the $300 correction in 2008.

Inevitably there will be the armchair critics who will take delight in reminding him of the missed target, however if he happens to miss it by a few months then I still give him full credit.

Predicting any market can be a mugs game, never mind the highly manipulated paper gold market.

He has been receiving much flak lately, even from those ingrates who profited from his FREE advice.