Any ideas on where it’s headed? GS and JPMC turned bullish recently.
But the Fed spooked the markets yesterday…
Outlook for levels, supports, resistances for precious metals…feel free to share!
Cheers!
just do the opposite of what GS says and you’ll do well…
yes they are surely on the other side of the trade if they’ve stated a position publicly
My bad…GS is bearish on Gold while JP are bullish…
CNBC reported that GS, although bearish, raised its price targets for Au recently…their near term price target for the yellow metal is now $1100
Does that mean it would be safer to buy gold, seeing that GS says to sell it?
Interesting theory…!
Tyler?
buy on any weakness. Gold sold off Wednesday, 5/18/16, because the Fed surprised the market with hawkish rhetoric. And if the Fed does actually raise rates in June and gold sells off again, buy more. Remember, gold sold off right after the December rate hike, then went up 200 points. Peter Schiff called that bottom in the swing trade! Listen to him for the future of gold prices, not JPM or GS.
^GLD or miners?
both
Looks like whoever listened to GS’ advice got killed…
Schiff is a retard that historically loses money hand over fist (including on gold calls) as outlined factually in this thread where you also tried to defend your man crush.
GS’s prop related business accounts for less than 10% of income.
I’m not saying they’re right or wrong, I’m just too sick and tired of explaining gold to first time posters on this forum (not you) to get involved.
With you on this one. That’s exactly why I’ve stayed out of this thread.
this is why we need sticky posts
The trade on gold was the micro cap juniors during late January until about 3 weeks ago.
Buying here doesn’t seem that attractive IMO.
Agreed, bought at Jan as well and sold out recently at high. I feel like alot of people tauting gold now is just talking their books to get some additional gains…
The media is a terrific contrarian indicator when it comes to forecasting gold. I’ve watched gold everyday for nearly a decade and it never fails that when the media (Marketwatch, Bloomberg, etc) starts saying it’s time to get bullish on gold, the run is over. Doesn’t necessarily work the other way (media bearish on gold = bottom) since the media has a natural bias against gold. Great at calling tops though.
Gold has just topped $1300 after the Fed’s cautious outlook…