Sachs

Jim Rickards Exposes Goldman Sachs’ Call for $1000/ounce gold

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The latest Peter Schiff Show with guest Jim Rickards was a nice one. In this interview Jim Rickards says that some insiders at Goldman Sachs’ are actually bullish on gold. They are actually disagreeing with their own research where they are calling for gold to go to $1000/ounce.

Whatever Goldman Sachs Says on Gold, Do The Opposite!

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Okay, you might think I’m making this chart up, but Goldman Sachs is doing completely the opposite trade of each call on gold they make.

Each time you see a “B”, Goldman Sachs says buy gold. Then the gold price drops down.
Each time you see an “S”, Goldman Sachs says sell gold. Then the gold price goes up.
Whatever you do, don’t follow Goldman Sachs. Goldman Sachs forecasts gold to drop under $1300/ounce by next year. Let’s bookmark this post and see what happens.

Here’s what Michael Pento thinks about Goldman’s call:
http://www.pentoport.com/mp3/MRC130410.mp3

Chart 1: Goldman Sachs Buy or Sell Gold Calls
Date Link
11/04/2013 http://seekingalpha.com/article/1334851-stars-continue-to-align-against-gold-goldman-sachs-targets-1-270-per-ounce-in-2014?source=google_news
22/01/2013 http://www.arabianmoney.net/gold-silver/2013/01/22/goldman-sachs-reverses-and-turns-positive-on-gold-hitting-1825-this-year-as-jim-sinclair-proven-right-again/
6/12/2012 http://profit.ndtv.com/news/commodities/article-goldman-sachs-cuts-2013-gold-price-forecasts-314311
6/09/2012 http://www.resourceinvestor.com/2012/09/06/jpm-goldman-see-1800-oz-gold-by-year-end
10/05/2012 http://goldnews.bullionvault.com/gold-prices-051020125
28/03/2012 http://www.valuewalk.com/2012/03/goldman-sachs-group-inc-gs-gives-gold-gld-buy-signal-repeat-of-oil/
9/01/2012 http://www.bloomberg.com/news/2012-01-09/goldman-stays-overweight-on-commodities-as-gold-favored-1-.html
19/12/2011 http://www.businessinsider.com/2012-gold-averages-goldman-1810oz-barclays-2000oz-and-ubs-2050oz-2011-12
8/07/2011 http://www.zerohedge.com/news/goldman-hikes-its-12-month-gold-price-target-1735-1830
22/03/2011 http://www.zerohedge.com/article/fmx-connect-debunks-reverse-psychology-goldmans-buy-gold-recommendation
11/02/2011 http://pragcap.com/goldman-sachs-not-so-bullish-about-gold
12/10/2010 http://www.zerohedge.com/article/goldman-tells-clients-buy-comex-gold-13642-raises-12-month-gold-forecast-1365-1650-silver-27
18/08/2010 http://www.zerohedge.com/article/goldman-tells-its-special-clients-sell-gold-even-it-raises-its-price-target-shiny-metal
12/04/2010 http://www.zerohedge.com/article/goldman-again-buying-gold-selling-copper-it-lowers-gold-price-forecast-boosts-copper
3/12/2009 http://georgewashington2.blogspot.be/2009/12/goldman-predicts-gold-to-rise-above.html