Tuesday, October 12, 2010

Goldman Sachs Picks Up Jim Sinclairs Gold To $1650

Alarm bells are ringing everywhere as Goldman (which joins UniCredit in boosting its gold price target) may have just picked the short-term top in gold, after it revised its 12 month target from $1,365 to $1,650. And while David Greely's track record is nowhere near as atrocious as that of Goldman's FX team which manages to top tick the EURUSD every single time, the fact that Goldman is now opening Long Gold recommendations (to go with its current trading recommendations of long Corn, Copper, Platinum and WTI) is reason for big worry. Recall which bank was getting its clients to go all in in crude 2008 when oil was $140+. We would be very cautious when Goldman is on "your" side of the trade. Nonetheless, the firm is pretty much spot on "We believe that a return to quantitative easing will act as a strong catalyst to carry gold prices to even higher levels."

2 comments:

  1. But I hear the "Gold"Is counterfeit,The Chinese are fucking pissed about the gold embargo that was sent to them,That was owed to them,And it was fucking Tungsten wrapped in gold glitter.
    Some cunt wants a fucking third world war,All over "everything that glitters is not always "GOLD"

    ReplyDelete
  2. Anyone else that wants to comment.
    You all know that someone knows,"Whats really happening".
    You the ignorant general public are 99.95% caught up in M.S.M. RUBBISH.
    Number systems have nothing to do with,
    Adding up,Subtracting,Multiples,,Dividing,Fractions,
    Or,Algebra.
    This is main stream,"Well fuck me in the arse",LOGIC....
    Once society refuses to think correctly,Then everything else "FALLS".And the world is falling!!!!!.

    ReplyDelete

Everyone is encouraged to participate with civilized comments.