Who’s Right About Gold?

Who’s Right About Gold?
An employee of the German Federal Bank checks the core of a bar of gold during a press conference at the German Federal Bank in Frankfurt am Main, western Germany, on January 16, 2013. FRANK RUMPENHORST/AFP/Getty Images
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There’s one thing not open for debate: Gold is up 20 percent this year, only silver and soy did better. What is debatable and also debated across the financial spectrum is where it is going to be in the future.

Investment bank Goldman Sachs thinks gold is headed lower, to $1200 per ounce in three months’ time (now it’s trading at $1272), but has been repeatedly wrong with its predictions and had to increase its price target in incremental steps from $1000 to $1200 while gold logged its best quarter in 30 years.

(Barchart.com)
Barchart.com
Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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