Two weeks ago Friday Goldman Sachs bank’s head of commodities research, Jeffrey Currie, said there’s a danger that gold could drop to under $1,000 an ounce in the near term.
“While we agree with the mid-cycle price somewhere around $1,200, we believe that at least near term it can overshoot to the downside, which is why we have $1,050” as a target, says Currie. “It clearly could trade below $1,000.”
These calls for lower gold prices simply mean GS hasnt been able to cover their gold short. Once they do they will become gold bulls. Dont listen to these MFers, they are the lowest form of #$%$ there is.