The Latest Coordinated Takedown In Gold And Silver Has Failed: Goldman Closes Gold Short, HEDGE FUNDS RAISING LONG POSITIONS ON GOLD… Apparently, There’s A Gold Rush In India While Swiss Bank Fails To Deliver Gold!
NEW YORK–Goldman Sachs Group Inc. GS +0.58% on Tuesday closed its recommendation to “short” gold, telling clients to exit bets on lower gold prices.
The bank had told its clients to bet on lower gold prices April 10, slashing its short- and long-term gold forecasts as prices dangled above bear-market territory at $1,588.30 an ounce.
At the time, analysts Damien Courvalin and Jeffrey Currie told clients that “should our expectation for lower gold prices continue to prove correct, the fall in prices could end up being faster and larger than our forecast.”
Joe Terranova‏@terranovajoe2 min
$GS on Gold “We have closed our recommendation to short COMEX Gold, as prices
moved above the stop at $1,400/toz.”
After getting its butt kicked last week, gold is bouncing back a bit.
It’s up over 2% today, surging to above $1430/oz.
At one point last week it was in the low $1300s.
Russian Market‏@russian_market17 min
HEDGE FUNDS RAISING LONG POSITIONS ON GOLD – CNBC (via @sharon_epperson)
Gold had its best day in 3 weeks ending back above $1425 and its best 5-day run in 18 months…
From Jim Sinclair via KWN: A person that I know with significant deposits in one of the primary Swiss banks, in allocated gold, wanted to take out his gold and was just refused on the basis of directives from the central bank
“There Was So Much Demand For Physical Gold In India This Past Week, Retailers Struggled To Keep Up”
The “coordinated smashdown of gold and silver” was on everyone’s mind this week, but is it true? Did the price of paper gold (futures) divorce from the price of physical gold? One thing is for sure, the dollar gained from 21g to over 22g of gold on F…
“Gold is freeing itself as an emancipation process from the gold banks control via paper gold that has no gold whatsoever involved in it. The thralldom of the gold price ends when the Evil Kings of Gold, the Gold Banks, are clearly proven to have no…
Today outspoken hedge fund manager William Kaye told KWN that the central planners’ move to destroy confidence in gold has failed. Kaye, who 25 years ago worked for Goldman Sachs in mergers & acquisitions & who is the founder of Pacific Grou…