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Goldman Cuts Gold Price Forecasts

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Goldman Sachs cut its gold price forecasts for a second time in six weeks on Wednesday, citing expectations for an acceleration in U.S. economic growth and the metal's recent lacklustre price performance. The bank lowered its 2013 average gold price forecast to $1,545 an ounce from $1,610 and its 2014 price view to $1,350 an ounce from $1,490. It also advised that investors close a long COMEX gold position, recommended in late 2010, and replace it with a short COMEX position. Link

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After 12 years of boom, gold prices bust

"The scale of the decline has been absolutely breathtaking.” For the first time in 12 years, the gold price is now officially in decline. We tried to rally and that just didn't get anywhere ... there hasn't been any downside support, it's like a knife through butter," Societe Generale analyst Robin Bhar said. Gold fell below $1,500 an ounce on Friday, a drop of more than 20% from its record 2011 highs, putting it in bear market territory for the first time since 2001. The metal was heading for a 4.9% decline this week, its third such drop in a row and the biggest since December 2011. It was down some 22% below the record peak hit in September 2011 at $1,920.30.

What’s driving the fall? Link

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Goldman Sachs' recommendation to short gold last week looks pretty good at the moment.

Six days later and a 12% tumble in gold prices, gold has now traded below the $1,450 an ounce. The firm is sticking to its short thesis, while also advising clients to go long natural gas. We argued last week that prices could decline more than we initially thought as positioning is stretched and the momentum is to the downside.

Link

OB-XB897_goldet_P_20130416095746.jpg

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Goldman Sachs' recommendation to short gold last week looks pretty good at the moment.

Six days later and a 12% tumble in gold prices, gold has now traded below the $1,450 an ounce. The firm is sticking to its short thesis, while also advising clients to go long natural gas. We argued last week that prices could decline more than we initially thought as positioning is stretched and the momentum is to the downside.

Link

OB-XB897_goldet_P_20130416095746.jpg

:lol: I bet they are buying cart loads.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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