Goldman Sachs Jumps On Surprising Gold Investment Trend As Per Today’s Market Economic Position

Wed, Apr 10, 2013

Long Term Gold Investment Advice

The gold relief rally has come and gone.

Gold prices have accelerated their slide in the last few weeks. And despite a couple of short-lived rebounds in the price of gold, the trend is still down.

Now Goldman Sachs (NYSE:GS) is the latest big bank to jump on the downtrend. Goldman officially acknowledged the increasing likelihood gold prices continue to drop.gold investment advice for beginners

In an investment research report released earlier today, Goldman Announced Surprising Jump On New Gold Price targets of $1490 an ounce (six months) and $1390 an ounce (12 months).

These targets are downward revisions from its last forecast of about 7% (six months) and almost 9% (12 months).

So is this a sign the gold price downtrend will continue or the absolute bottom?

As you know, when the big banks recommend selling an investment, returns tend to significantly outpace the overall markets in the months and years that follow. But honestly, at this point there’s absolutely no way to tell where gold prices are going in medium-term. These forecasts are ridiculous because of the variable nature of inflation, economic growth, and interest rates, all of which drive gold, are impossible to predict as well.

For the short-term though, this lowered gold forecast is another warning sign the current gold price correction will likely continue until there’s a significant catalyst to turn things around.

In the last few months the gold sell-off has rolled right over multiple major catalysts which normally would have sent gold prices higher. Over the last few months we’ve seen the European, American, and Japanese central banks all commit to further money printing and keeping interest rates low.

gold investment advice
Normally, that’s good for gold prices. However, the whole time gold prices continued to drift lower.

As a result, our Gold Investment Advice remains the same despite the ongoing downtrend in gold prices. If you don’t own any gold, buy some. If you want to buy more gold or gold stocks, wait for a new uptrend to begin.

Visit Contrarian Investment For More Information On Gold Investment

Good investing,

 

Andrew Mickey
Executive Editor, Contrarian Insights

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