The $1 Million Gold Bet

I noticed this on Barry Ritholtz’s site more than two years ago (via Prieur du Plessis). Jim Sinclair offered a $1 million bet to anyone that gold will reach $1,650 an ounce by the second week of January 2011. We’re a little over a year away.
At the time of the bet in April 2008, gold was going for about $900 an ounce. It recently jumped over $1,200 an ounce (although it pulled back sharply today to around $1,160). So gold has had a good run. But it still needs a good surge over the next thirteen months to hit Sinclair’s target.
Will it make it? I have no idea. This one may come down to the wire.

Posted by on December 4th, 2009 at 2:43 pm


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