Goldman remains bearish on gold, lowering its stop to $1,400/oz as the latest data show an...

|By:, SA News Editor

Goldman remains bearish on gold, lowering its stop to $1,400/oz as the latest data show an acceleration of gold ETF liquidation. That the pressure on Cyprus to sell its gold might spread to other debt-addled EU states could be the catalyst for the recent big move, suggests Goldman. Hedge-funder and hedged gold bull John Burbank notes many long the metal are very much un-hedged (i.e., John Paulson - famously long both the metal and the miners). GLD +1.2%.