MNeagle
17th May 2010, 03:50 PM
Goldman Revises Gold Forecast, Now Constructive, As It Sells Gold To Clients
A month ago we posted an article which we titled: "Goldman Again Buying Gold, Selling Copper As It Lowers Gold Price Forecast, Boosts Copper" in which we speculated, as the title suggests, that since Goldman had turned bearish on gold, we were expecting gold price to jump as Goldman was once again implicitly buying the precious metal from its clients. Sure enough, a month later and $100 dollars higher, Goldman has once again performed its non-fiduciary duty and released another commodities update in which the firm is now quite constructive on gold. And all it took was a month (and some called us cynical). That said, as Goldman is now selling gold, it may be time to reevaluate gold positions, at least from a technical trade perspective.
In our original post we wrote:
rest of story: http://www.zerohedge.com/article/goldman-revises-gold-forecast-now-constructive-it-sells-gold-clients?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedg e+-+on+a+long+enough+timeline%2C+the+survival+rate+fo r+everyone+drops+to+zero%29
A month ago we posted an article which we titled: "Goldman Again Buying Gold, Selling Copper As It Lowers Gold Price Forecast, Boosts Copper" in which we speculated, as the title suggests, that since Goldman had turned bearish on gold, we were expecting gold price to jump as Goldman was once again implicitly buying the precious metal from its clients. Sure enough, a month later and $100 dollars higher, Goldman has once again performed its non-fiduciary duty and released another commodities update in which the firm is now quite constructive on gold. And all it took was a month (and some called us cynical). That said, as Goldman is now selling gold, it may be time to reevaluate gold positions, at least from a technical trade perspective.
In our original post we wrote:
rest of story: http://www.zerohedge.com/article/goldman-revises-gold-forecast-now-constructive-it-sells-gold-clients?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedg e+-+on+a+long+enough+timeline%2C+the+survival+rate+fo r+everyone+drops+to+zero%29