Wednesday, April 10, 2013

Goldman Sachs recommends investors short gold

According to the Wall Street Journal, Goldman Sachs (GS) is now recommending that investors close out long positions and initiate short positions in gold.
The firm (Goldmand Sachs) noted that its year-end price targets of $1,450 a troy ounce in 2013 and $1,270 in 2014 
Time will tell.   Of course GS could slam the price of paper gold any time by selling more derivative contracts.  So GS could make their forecast a reality.  I doubt they will do so.  I have become so skeptical of the big, core banks motives, especially with regards to investors, that I find this recommendation bullish for gold.

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