I’m guessing that Goldman and Soros have a lot of cash on hand and want to buy a lot of gold, because they expect it to skyrocket when inflation really kicks in. Step One: drive down the price.
Goldman lies. How is the dollar getting stronger when other countries are abandoning it?
“Now is the perfect time to get into Obama Dollars - previously known as Treasuries. Yes, get rid of that useless yellow paperweight, and get this really cool piece of paper with engraving and numbers and stuff.”
Compared to paper money gold will retain its value in a crisis, and this is why many buy the shiny stuff and hide it somewhere.
I do not own much and not sure gold works as advertised, but one can see the gold bug's point. In the end IMHO, the government will not allow you to hold gold if/when the fiat currency collapses.
We might just find out, I hope not.
schu
I’m sticking with junk silver coins, although I would have a bit of gold if I had more money to protect. Every executive at Goldman-Sachs has richly earned a brief second job as a rope stretcher. Why would anyone believe a word from them?
"we expect a combination of stronger US growth, a strengthening dollar, temperate inflation and generally higher risk-asset prices to raise the opportunity cost of holding gold... Given these competing tensions, gold does not screen as a compelling tactical opportunity in our framework."
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It must be remembered that America is not alone, an island.
There is a big world out there and the people who populate the world determine the price of gold in US$
The rally might be fading, but gold is indeed an inflation hedge. It’s a safe haven in turbulent economic times.
Why anyone trusts anything Gold Mansacks has to say anymore is beyond me.
I think Gold will bounce around for a bit but I don't know what kind of dope Goldman and Business Insider are smoking if they believe the tripe about the "strengthening dollar, growing economy, etc." The dollar isn't strengthening, the economy is not growing...or just barely...and the China correction has not happened. What will happen when China's GDP falls below the 6-8% they need it to sustain????
Gold is okay and will continue to be fine. But, don't invest 100% in it and you'll be okay.
Sorry, Goldman... I guess I’ll just have to take my chances...
With everyone buying and few selling, Goldman may be short some physical gold. Start a selling cycle and sop up gold on the cheap. The peasants will never figure it out...