Goldman Sachs lifted its three-month gold forecast to $1,000 an ounce from $700 an ounce, citing saf

Metalsman

" Goldman Sachs lifted its three-month gold forecast to $1,000 an ounce from $700 an ounce, citing safe-haven demand for gold."

Where the HECK have these guys been...a 3 month forecast... that moves from $700 [saying it was going down form average].. to $1000.[ saying its going way up from average]..... and these are the ones the Gov have trestify about finacial conditions and policies!....

PerryHall

<< <i>" Goldman Sachs lifted its three-month gold forecast to $1,000 an ounce from $700 an ounce, citing safe-haven demand for gold."

Where the HECK have these guys been...a 3 month forecast... that moves from $700 [saying it was going down form average].. to $1000.[ saying its going way up from average]..... and these are the ones the Gov have trestify about finacial conditions and policies!.... >>



Agree. They are really good at forecasting yesterday's news.

mhammerman

"Agree. They are really good at forecasting yesterday's news."

Yeah, if Goldman would have just read this thread, they would have known a few weeks ago.

dac076

<< <i>" Goldman Sachs lifted its three-month gold forecast to $1,000 an ounce from $700 an ounce, citing safe-haven demand for gold."

Where the HECK have these guys been...a 3 month forecast... that moves from $700 [saying it was going down form average].. to $1000.[ saying its going way up from average]..... and these are the ones the Gov have trestify about finacial conditions and policies!.... >>



It's worse than that. Many ex-GS guys are RUNNING the gov't.

Metalsman

<< <i>

<< <i>" Goldman Sachs lifted its three-month gold forecast to $1,000 an ounce from $700 an ounce, citing safe-haven demand for gold."

Where the HECK have these guys been...a 3 month forecast... that moves from $700 [saying it was going down form average].. to $1000.[ saying its going way up from average]..... and these are the ones the Gov have trestify about finacial conditions and policies!.... >>



It's worse than that. Many ex-GS guys are RUNNING the gov't. >>



Thats where I was going with my thoughts... So....Buy more Gold... These "guys , the new one included" will now run the country the rest of the way down VERY quickly! JMHO.

RedTiger

That may be bad news. GS has sometimes been rumored to do the old pump-and-dump, telling the general public one thing, while their top clients are on the other side of the trade.

Metalsman

<< <i>That may be bad news. GS has sometimes been rumored to do the old pump-and-dump, telling the general public one thing, while their top clients are on the other side of the trade. >>



That would imply that GS has phyiscal Gold.. I doubt that very much..

Bithrate

<< <i>" Goldman Sachs lifted its three-month gold forecast to $1,000 an ounce from $700 an ounce, citing safe-haven demand for gold."

Where the HECK have these guys been...a 3 month forecast... that moves from $700 [saying it was going down form average].. to $1000.[ saying its going way up from average]..... and these are the ones the Gov have trestify about finacial conditions and policies!.... >>




These are the same guys that predicted $200 oil last year...

1201reset

My understanding is that they predict the average price to be 1K,
also other analysts are predicting yearly average in the $1200-2000
range, it's very bullish for gold.

Now if was JPM or HSBC ...

percyb

<< <i>That may be bad news. GS has sometimes been rumored to do the old pump-and-dump, telling the general public one thing, while their top clients are on the other side of the trade. >>



I was just thinking the same thing. Maybe Gold is a sell in here at 900. Just mho.

coynclecter

<< <i>

<< <i>That may be bad news. GS has sometimes been rumored to do the old pump-and-dump, telling the general public one thing, while their top clients are on the other side of the trade. >>



That would imply that GS has phyiscal Gold.. I doubt that very much.. >>



GS has all the gold they need. When you own all the top guys in Treasury, FED and SEC (mostly ex GS employees)you have all the Gov't gold.

derryb

Keep in mind that GS is one of the banks accused of being in bed with the government in keeping the price of gold "contained." Their "buy" signal could very well be a trap for the next price takedown.

jdimmick

When everybody is saying it, it usually gives me the impression its time to sell. Gets everybody running to buy it with one last minute hoorah, while its being sold off on the back side by the ones saying buy , buy buy !!

derryb

jd, the price take downs are only temporary. profit from them. eventually price take down attempts will be ineffective. That's when gold will take off and the government will have to decide whether to let it run or put a stop to it completely (confiscation, freeze on PM trading, re-evaluation, etc.)

Metalsman

<< <i>

<< <i>

<< <i>That may be bad news. GS has sometimes been rumored to do the old pump-and-dump, telling the general public one thing, while their top clients are on the other side of the trade. >>



That would imply that GS has phyiscal Gold.. I doubt that very much.. >>



GS has all the gold they need. When you own all the top guys in Treasury, FED and SEC (mostly ex GS employees)you have all the Gov't gold. >>



I think you are being sarcastic about GS having all the gold they need. The "Gov't gold"...meaning the goverment.. because just exactly how much gold does the USA goverment have?... Answer... not much/or enough... the bigger problem with your scenario is GS may be able to control/work with the US Gov.. but not the others... see, China, UK, Russia, India and others..... GS does not control the PM markets anymore period.

derryb

"Gold is nothing but a metal that people ascribe arbitrary value to."

Very true, but throughout history it is the one form of currency (trading medium) that always has some value. And when value in other trading mediums declines or vanishes, mankind has always returned to gold as a bartering agent. The "arbitrary" value assigned to gold is inversely determined by the value assigned to its alternatives. Every time throughout history when gold's alternatives have failed, gold has not. In these rough economic times, I'm sticking with a proven winner, knowing that people will ascribe the correct arbitrary value to it.

Johnp

about time and they are very conservative so lets see 1200 on this run, bought more at $955 and 965 and oz on Ebay

gecko109

<< <i>I'm of the opinion that gold is probably limited on the upside, though in all honesty, I've said that at lower levels. However, the one thing that people seem to mistake or misstate is the notion that gold is some sort of "hard" currency. Gold is nothing but a metal that people ascribe arbitrary value to. Without people ascribing this arbitrary value, it ceases to have any. Just like the U.S. Dollar, gold is, and has always been, a fiat currency. And while people denigrate the dollar today (and with good reason), there have been of plenty of times in recent years/decades where the world considered the U.S. Dollar a much better "fiat" currency than gold. >>




When the U.S. (or any world government) is able to plug in a machine and start "printing" gold at their whim, i'll accept your argument. But as it is currently, your analysis makes absolutely no sense.

mhammerman

"Without people ascribing this arbitrary value, it ceases to have any. Just like the U.S. Dollar, gold is, and has always been, a fiat currency."

"When the U.S. (or any world government) is able to plug in a machine and start "printing" gold at their whim, i'll accept your argument. But as it is currently, your analysis makes absolutely no sense."

Yepper, I would settle for them printing paper money that had any type of physical asset backing. The "backed by the full faith" value is somewhat difficult to put a real pencil to especially when much of it is tied up in some sort of derivitives and options that have no mark to market value that anyone can agree on...so, talk about arbitrary value sure but with gold everyone knows exactly what it's value is...to the cent!

PerryHall

<< <i>"Without people ascribing this arbitrary value, it ceases to have any. Just like the U.S. Dollar, gold is, and has always been, a fiat currency."

"When the U.S. (or any world government) is able to plug in a machine and start "printing" gold at their whim, i'll accept your argument. But as it is currently, your analysis makes absolutely no sense."

Yepper, I would settle for them printing paper money that had any type of physical asset backing. The "backed by the full faith" value is somewhat difficult to put a real pencil to especially when much of it is tied up in some sort of derivitives and options that have no mark to market value that anyone can agree on...so, talk about arbitrary value sure but with gold everyone knows exactly what it's value is...to the cent! >>



The government can renege on any backing of their paper in a heartbeat. Try getting some silver for some old silver certificates.

OPA

<< <i>Try getting some silver for some old silver certificates. >>



I did many a times during the 60's The Feds gave everyone ample time to cash in their s.c.'s, before that stopped .... "I guess you were left standing at the dock as your ship left."

On the other hand, if G.S. gives a rosy Gold forecast, is it time to jump of the Gold Wagon?

PerryHall

<< <i>

<< <i>Try getting some silver for some old silver certificates. >>



I did many a times during the 60's The Feds gave everyone ample time to cash in their s.c.'s, before that stopped .... "I guess you were left standing at the dock as your ship left." >>



How much opportunity did FDR give citizens to cash in their gold certificates?

OPA

<< <i>

<< <i>

<< <i>Try getting some silver for some old silver certificates. >>



I did many a times during the 60's The Feds gave everyone ample time to cash in their s.c.'s, before that stopped .... "I guess you were left standing at the dock as your ship left." >>



How much opportunity did FDR give citizens to cash in their gold certificates? >>



I don't know ... I wasn't around in the 30's ... but in the 60's, if my memory serves me correctly, it was more than a 12 month.

PerryHall

<< <i>

<< <i>

<< <i>

<< <i>Try getting some silver for some old silver certificates. >>



I did many a times during the 60's The Feds gave everyone ample time to cash in their s.c.'s, before that stopped .... "I guess you were left standing at the dock as your ship left." >>



How much opportunity did FDR give citizens to cash in their gold certificates? >>



I don't know ... I wasn't around in the 30's ... but in the 60's, if my memory serves me correctly, it was more than a 12 month. >>



It was a retorical question. The government banned the ownership of gold and gold certificates at the same time. Also, you didn't have to be around in the 1930's to know this. Try reading a history book.