Goldman Sachs Recommends Shorting Gold
The bank says it believes a sharp rebound in gold prices is unlikely and that the fall in prices could end up being faster and larger than its current forecast
by Geoff Candy
Mine Web
GRONINGEN (MINEWEB) – Goldman Sachs has, once again, lowered its gold forecasts, announcing in a new note that clients should consider shorting the yellow metal.
The bank says that the lack of gold price response to the recent resurgence in “Euro area risk aversion and disappointing US economic data” highlights how quickly investor conviction in holding gold is waning.
Goldman Sachs writes, “With this move lower triggered by the unexpected sharp improvement in the three risks that we initially thought could support gold prices in 1Q13, events since mid-March have finally offered potential catalysts for a rebound in gold prices. And yet, gold prices have remained unfazed by the recent resurgence in Euro area risk aversion and disappointing US economic data, currently trading at their level from a month ago, $1,585/toz.
Continue Reading at MineWeb.com…
2013-04-10 16:15:07
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).