Goldman slashed its short- and long-term gold forecasts, a move that comes about six weeks after the firm had already turned even more bearish on the metal. Goldman now sees gold ending the year at $1,450, a forecast that came down from $1,600 at the end of February and $1,810 prior to that.
Goldman sees gold falling to $1270 by the end of 2014.
I assume that GS is putting this prediction out there to push the price of gold down a bit, at which point they will move into it heavily and blow out all of the amateurs who took short positions because they thought that GS must know what it's talking about.
I'm surprised that people pay so much attention to the ramblings of the narcissistic self-serving assholes at Goldman Sachs. I would assume anything that I heard from them was a lie designed to get me to do something that was bad for me and good for them.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
Desert wrote:
MT, I couldn't agree more. Goldman Sachs is near the bottom of my list of bottom feeders.
Only Monsanto ranks lower in my list.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Desert wrote:
MT, I couldn't agree more. Goldman Sachs is near the bottom of my list of bottom feeders.
Only Monsanto ranks lower in my list.
Now there's something I can agree with!
The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.
- H. L. Mencken
So gold is going down now. It may go down another 5%. Then everyone will think a short position is safe and it will suddenly surge upward 10%. Much later, we will learn that GS took a short position before announcing its bearish position and then took a long position after the 10% drop following its bearish call.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
Thank you GS and JPM and other Fed junky "banks". Me and my other smart Asian investors owe you one, although you almost caught us off guard w the time difference. Almost went to bed too early before you unloaded more naked shorts on the market.You just did us a HUGE favor by manipulating the price down on gold and silver today to levels that were taking too long to happen otherwise.
