“One of the star performers of 2014 has been gold.
It started the year around $1200/oz and recently nearly got to $1400/oz before slipping back a bit.
In a new note, Goldman argues that the rise in gold has been driven by three unsustainable factors: Weather-induced economic slowdown in the US, a spike in Chinese demand due to credit concerns, and increased geopolitical tension.
The firm argues that all of these tailwinds will fade and that gold will hit $1050 this year….”
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