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I Told You Goldman Was Buying Gold On Their Own Downgrade

|Includes:Goldman Sachs Group Inc. (GS)

Written by me on April 15th:

So, the wool that Goldman (NYSE:GS) could be trying to pull over your eyes here could be the same tactics used by analysts, market makers and hedge fund traders everywhere: create a trend and buy/sell the opposite into it. If you think Goldman could not possibly be buying gold on their very own downgrade and assumed corresponding price decline, then I have some real estate in Alaska I'd like to sell you. I'd bet dollars to donuts that the "waning interest" in gold that Goldman is citing could be as fabricated as the money we continue to print.

Reported today, April 23, on with the headline "Surprise! Goldman Covers Gold Short" :

Goldman Sachs on Tuesday reversed its high-profile call to short gold, which it made two weeks ago, just before the metal sunk into bear market territory.

Still think analysts don't manipulate markets or have a stake in the game?

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: GS