With gold prices struggling to shine as a safe haven, Goldman Sachs cuts its gold price forecasts for the second time in two months. Goldman's gold team now sees an average price of $1,545/oz. in 2013 vs. its earlier forecast of $1,610, with prices falling to $1,350 in 2014 from $1,490 expected previously. The move comes a day after Deutsche Bank poured cold water on its own outlook
Outlooks from analysts are complete BS.Search what the analysts said in november for gold, targets around 2000 to 2300. So if you bought then you were screwed. if you short here because of what analysts predicts, the same losses can happen. I know that a lot of downgrades happen at the bottom of a stock because the big firms are loading up at the same time.
Don't trust analysts , just trade .
I sold my position yesterday and will enter in the low 8 again.