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Nice. Gold is downgraded at Credit Suisse, which cuts its price target to $1,600. One month ago,...
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Thursday, February 21, 7:26 AM ETNice. Gold is downgraded at Credit Suisse, which cuts its price target to $1,600. One month ago, the bank saw gold at $1,750 in the short-term and $1,800 over the new year. GLD +0.6% premarket.
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Gold is presently below $1,600 and Credit Suisse lowers their target to $1,600. Way to be ahead of the game Credit Suisse!
I actually do think there is a buy opportunity here, if not now, real soon. GOLD is on the ever increasing upward path, this is a blip. Developed world economies are in a shamble and are inflating their way out. UK is accepting of higher inflation, officially. We don't even say it exists here in the US, LOL.
"... By issuing GLDI notes, the bank’s functionally long GLD puts -- a decidedly bearish position, though one with limited risk in the event of an upward spike in gold. That’s telling.
The interests of Credit Suisse, to be sure, conflict with that of GLDI investors. That’s no secret. The bank’s disclosure documents explicitly warns [sic] buyers: “[T]he the [sic] economic interests of the calculation agent, index sponsor, and other affiliates of ours are potentially adverse to your interests as an investor in the GLDI ETNs.”
http://bit.ly/136Zp2t
The minute Germany Demanded it's gold back from the FED you knew gold was going to be driven down, way down. Take a look at the gold premarket almost every day for the last week . Prior to the open every day ( a period by the way the average investors can NOT trade) huge volumes of paper is being dumped and the price is driven down. This is another example of the sytematic take down of gold. People the precious metals market has been rigged for at least a decade. Take a look at the way national banks buy and sell gold. The world was whitness to the wholesale liquidation of gold by State owned banks when gold was UNDER $300. And they waited until gold has risen nearly 600% to buy it back. All those PHD's working for all those governments and the best they can come up with for a gold strategy is sell everthing at the bottom. And then wait 10 years until the market tops and then buy it all back? Really come on people. The FED ordered gold to be crushed because the FED DOES NOT HAVE GERMANY'S GOLD AND NEEDS TO BUY GOLD ON THE OPEN MARKET. The FED will start buying when gold drops below $1300. Bear in mind that Gold is valued in dollars and the dollar has actually lost 2/3's of its value over the last decade. The FED is just another front for the international crime syndicate that masquerades as a "Federal" Banking institution. This is a coverup operation. The real question that no one is asking is who got to buy all that gold when the state banks were selling at $300 an ounce and the FED was giving it away at the same prices? If you can figure out who got all that gold you will have found out who the criminals are.
Then they were shown a vault of bars but no can touch
Why? Is the gold bar a fake?
Why not simply buy Krugerrands and hide them under your mattress (if you also don't trust banks)?
Waitaminute -OMG, maybe there are fake Krugerrands out there, too!
It never ends.
http://bit.ly/VzGOId