Goldman Sachs is the world’s worst gold forecaster so go long when they say short

Thank you to our friends in the London gold trading community for reminding us this summer that Goldman Sachs has one of the worst records as a forecaster of the gold price, so when they say to short gold like today it is almost always a time to go long.
The Ukraine-Russia crisis and economic weakness in Europe and Japan have been supporting gold somewhat, but prices are being pressured by Federal Reserve policy, said Jeffrey Currie, head of commodities research at Goldman Sachs. That’s why he sees the precious metal falling 17 per cent from current levels by year end.

This post was published at Arabian Money on 04 September 2014.

 

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