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With gold prices struggling to shine as a safe haven, Goldman Sachs cuts its gold price...

With gold prices struggling to shine as a safe haven, Goldman Sachs cuts its gold price forecasts for the second time in two months. Goldman's gold team now sees an average price of $1,545/oz. in 2013 vs. its earlier forecast of $1,610, with prices falling to $1,350 in 2014 from $1,490 expected previously. The move comes a day after Deutsche Bank poured cold water on its own outlook for gold.
Comments (11)
  • HarvardMBA
    , contributor
    Comments (3) | Send Message
     
    Goldman may have a short to cover as it was odd that they didn't mention in their recommendation that spec short interest is also near a record high which is contrarian bullish.
    10 Apr 2013, 08:23 AM Reply Like
  • Dividend Pros
    , contributor
    Comments (154) | Send Message
     
    Here's what I wrote on debunking Goldman's view on gold.

     

    http://seekingalpha.co...
    10 Apr 2013, 08:45 AM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (1888) | Send Message
     
    made a comment on your article.. go look
    Capt. Brian
    10 Apr 2013, 12:26 PM Reply Like
  • Jhalgren
    , contributor
    Comments (100) | Send Message
     
    Anyone know if Goldman has a stash of Gold? Are they part of the cartel that's taking the COMEX gold inventories to lowest level ever? I smell a rat on the ship! As a journalist, it seems one must follow the gold. If Goldman has a new stash of it, they're placing themselves in a position of survival when the Titanic goes down. Would like to know others opinions on this...
    10 Apr 2013, 08:28 AM Reply Like
  • osanbat9
    , contributor
    Comments (9) | Send Message
     
    Why is it that gold is being accumulated by central banks and on a cost basis is only dropping in the US, not in Europe and Asia, at least nowhere near as it is here?
    10 Apr 2013, 08:35 AM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (1888) | Send Message
     
    Because American bankers have taken drugs fed them by someone, and they truly believe what they are doing is correct. Never have so many people been duped do heavily. There is two ways to take over a country, one is way, the is financially.
    Buy gold!
    Capt. Brian
    The Lost Navigator
    10 Apr 2013, 12:22 PM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (1888) | Send Message
     
    I meant one way is war, the other financially
    10 Apr 2013, 12:27 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    you can bet Goldman is buying.....they tell you to sell when they want to buy...or need to buy..
    10 Apr 2013, 08:49 AM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2727) | Send Message
     
    Don't know if Goldman is buying, but I know my clients are. Expect to see one more major push down and I will be writing my "all-in" article. Maybe by June. Patience will be rewarded.
    10 Apr 2013, 10:27 AM Reply Like
  • AntonioSonoQui
    , contributor
    Comments (179) | Send Message
     
    After every single down move, there's always an author or analyst that says this "I expect one more push down, then we're going up!"

     

    After the next down move, I'm sure we'll be hearing many more "I'm expecting one more down move" lol
    10 Apr 2013, 12:43 PM Reply Like
  • me3tv
    , contributor
    Comments (46) | Send Message
     
    Well, the technicals are pushing a point of reversal to the upside at some point very soon. How much up and for how long, who knows? The continued loss of jobs and high inventory numbers seem to fundamentally suggest for a mid term period anyway -- a downward pressure. AT some point down the road though, inflation will finally kick in and run gold up quite high. That could be months or it could be years. I guess we must remain cautious and vigilant.
    10 Apr 2013, 09:47 PM Reply Like
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