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  • jbooooie jbooooie Sep 25, 2013 7:37 PM Flag

    Goldman Sachs

     

    Goldman Sachs lowered its forecast for gold so many times this year I can't count them all. Am I the only person who posts on this board who thinks Goldman Sachs is working with the FOMC to step on gold, like JPM did for them with silver. I posted a message just like this on April 11, this year. Look what gold has done since. Look at what the FOMC and Goldman Sachs has said since. Huh?

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    • "Am I the only person who posts on this board who thinks Goldman Sachs is working with the FOMC to step on gold, like JPM did for them with silver."

      Yes you are bozo. What rock have you been hiding under?
      BWAGH-hahahaaaaaaaaaaaaaaaaaa!

    • Look at how well U.S. Steel has done since Goldman Sachs raised its rating of the largest U.S. producer of steel to buy from sell. Huh?

    • U.S. Steel climbed 5.3% to $27.15. Goldman Sachs raised its rating of the largest U.S. producer of the alloy to buy from sell. The shares closed last week at a 10-month high after the company shut down some capacity.

      No manipulation. Huh?

    • As of Oct. 22, speculators added to their bullish precious metals futures and options contracts traded on the Comex division of the New York Mercantile Exchange across the board, according to U.S. government data released Friday.

      This is the fourth weekly commitments of traders report released by the Commodity Futures Trading Commission since the U.S. government reopened, with this report dated as of Oct. 22. While the information is dated, it gives the market an idea of the activity speculators and commercial market participants in the metals markets at the time. The CFTC is seeking to catch up on its data releases.

      Speculators’ activity in precious metals was nearly identical in both markets in both the disaggregated and legacy reports: adding gross longs and cutting gross shorts, meaning bullish trades were added and bearish ones cut.

      During the timeframe of the CFTC report, Barclays noted gold rose to the $1,340s level as the dollar weakened against the euro, 10-year U.S. Treasury notes eased and U.S. stocks rallied after the U.S. Congress passed a bill to fund federal agencies at current spending levels through Jan. 15 and to raise the debt ceiling through Feb. 7.

      “In line with expectations, the data reveal a build in gross long positions … as well as short-covering activity... Gross longs reached a seven-week high and net fund length as a percentage of open interest reached 20%. The open interest data over the past week implies long liquidation from tactical investors,” they said.

    • The are stepping on it. So what can be done about it?

      • 1 Reply to pkm92101
      • Like any trade. It has to unwind at some point. By shorting it, they have to increase their leverage all the time because of how far it's already been beaten down. Every couple of months they rake in the profits, and the trade unwinds while the price floats back up closer to par. Metal isn't backed by faith. Metal is backed by supply and demand. Paper gold is the same as paper fiat currency of any kind. The supply is unlimited. Huh?

    • They along with JPM create paper gold and sell it short. It will blow up in their faces one day when there is no more physical gold and it spikes to $3000.

    • What explains this. Huh?

      http://finance.yahoo.com/q?s=GDXJ131116C00010000

    • Cant have any currency competing with the printing presses. Of course they have an agenda. To take you $$$$! Play the game or get out.

    • Golvermant Sucks. Period.

    • GS is the lead underwriter on twitter. Is this really news or a vague pump by an unknown website bought and paid for?

      NEW YORK (Reuters) - Twitter Inc plans to make its IPO filing public this week, news website Quartz reported on Sunday, citing a person familiar with the social media network's plan.

      Twitter, which is expected to be valued at up to $15 billion, filed with U.S. regulators on September 12 to go public, but did so confidentially and without providing a timeline under a process available to emerging growth companies.

      Nice $50 drop in gold in 15 hours. No, no manipulation at all by GS. Huh?

      • 2 Replies to jbooooie
      • "GS is the lead underwriter on twitter. Is this really news or a vague pump by an unknown website bought and paid for?

        NEW YORK (Reuters) - Twitter Inc plans to make its IPO filing public this week, news website Quartz reported on Sunday, citing a person familiar with the social media network's plan.

        Twitter, which is expected to be valued at up to $15 billion, filed with U.S. regulators on September 12 to go public, but did so confidentially and without providing a timeline under a process available to emerging growth companies"

        Booie, that story has nothing to do with Goldman Sachs or gold. You're more paranoid than you used to be. Don't be so afraid of that four letter word. SELL

      • Hey boobie when do you give up on the conspiracy theories and face the music? Get a dictionary. Look up the term DEAD MONEY it will say. "What is also known as precious metals"
        BWAH-HAH--HA-Hahahahahaaaaa!

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