Recent Goldman GOLD forecast

[gap]

For whatever its worth:

GOLDMAN SACHS: Here's Our Outlook For 14 Key Commodities
STEVEN PERLBERG JUL. 25, 2013, 7:45 AM 23,012 4
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8/15
COMEX Gold

REUTERS/Leonhard Foeger
12-month price forecast: $1,175/toz

Current price: $1,331/toz

After a near term estimate above current estimate, Goldman expects gold prices will decline "given our US economists’ forecast for improving economic activity and a less accommodative monetary policy stance." Their 2014 year-end forecast is $1,050/toz.

Source: Goldman Sachs, Bloomberg

[dualstow]

Sounds good to me. I bought some for my family at 1286.6, but none for myself. At Goldman's price, I would probably have to rebalance in.

Of course, the only thing we know is going down soon is Steven Cohen.

[MediumTex]

That's a trap.

[Libertarian666]

Goldman always tells the public to sell whatever Goldman wants to buy, and vice versa.

[gap]

Libertarian666 - you may be right
and as MT indicated it may be a trap but they did a forecast in Feb which for the most part has turned out to be true.
Of course past prediction are no indication of the future. Let's see what happens end of year

"UPDATE 1-Goldman Sachs cuts 2013, 2014 gold price forecasts

"
Global shares, euro tumble on economic concerns, Italy vote
Thu, Feb 21 2013

ETFs News »
Financials »
Tue Feb 26, 2013 6:30am EST
* Goldman sees gold at $1,600/oz in 2013 vs $1,810/oz

* Bank cuts 2014 price view to $1,450/oz vs $1,750/oz

* Reiterates call for turn in gold's bull cycle

By Jan Harvey

LONDON, Feb 26 (Reuters) - Goldman Sachs cut its 2013 gold price forecast to $1,600 an ounce from $1,810 an ounce, saying the metal's recent price drop and an increase in U.S. real interest rates have led it to bring forward its projections for a decline in the metal......"

[MediumTex]

Libertarian666 - you may be right
and as MT indicated it may be a trap but they did a forecast in Feb which for the most part has turned out to be true.
Of course past prediction are no indication of the future. Let's see what happens end of year.

The good call earlier in the year is what I am basing my "it's a trap" comment on now.

Maybe Goldman Sachs is just putting some research out there, but I sense it's more like "Look at our good call earlier in the year...it's obvious the price of gold has nowhere to go but down...a short position is very safe now..." And then, sometime between now and the end of the year--POW!--right in the kisser.