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Gold getting its shine back

What a bunch of jokers at Goldman Sachs! In April, they were advising their clients to sell their Gold, as they were expecting an important decline in its price. And, effectively, in the following weeks, the price of Gold fell. Those who had followed their advice thought they made a good deal.

However, the price of Gold seems to have hit bottom, at the end of June, at $1,200/oz, and it has been going up with regularity since, reaching around $1,400 this week. Increasing worries on most markets (emerging, bonds, stocks), not to mention Syria, are creating, of course, a favourable context for Gold. And since most central banks keep printing around the world (the Fed doesn’t even know how to get out of its QE), we can be very confident on the mid- to long term.

Those who sold their Gold just after Goldman Sachs announced their predictions must now realize they have pulled the trigger a bit too soon. That’s one thing. But what’s worse is that, according to Zero Hedge, the bank started, at the same moment, to buy Gold! Since April, “The Firm” has scooped enough Gold ETFs to become the 7th largest holder in the world. It is now in a position to largely profit from the future rise in the price of Gold.

For the rest of this article, visit goldbroker.com (all rights reserved) by following this link

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Thoughts
"For a mountaineer, the important things are the effort, the posture and the muscles. The rope that holds him serves no purpose when everything works but it gives him a sense of security. In the same way, all gold does is ensure confidence; it's a safe haven."