Goldman Ballsachs believes any substantial drop in gold is a buy — specifically for the reasons that have been repeated here ad nauseam.
GLOBAL GROWTH IS A MYTH. RECESSION IS COMING, IF NOT ALREADY HERE. THE CENTRAL BANKS CAN’T KEEP PUTTING HUMPTY DUMPTY BACK TOGETHER.
“We would view a gold sell-off substantially below $1,250 as a strategic buying opportunity, given substantial downside risks to global growth remain, and given that the market is likely to remain concerned about the ability of monetary policy to respond to any potential shocks to growth,” Currie and Layton wrote in the Oct. 6 report.
Goldman said it remains broadly neutral on the outlook for bullion through the year-end after the correction. The bank noted that the drop in prices hadn’t been driven by sales of bullion from holdings in exchange-traded funds, which have expanded this week as of Thursday.
“The move lower does not appear to be driven by physical gold ETF liquidation,” the analysts said. “The drivers of strong physical ETF and bar demand for gold during 2016 are likely to remain intact, including continued strong physical demand for gold as a strategic hedge.”
The miners have been poleaxed in recent weeks, my positions included. The reason why you’d want to get long gold into a recession is because the central banks are committed, by any means necessary, to denigrate the integrity of fiat money in an effort to help stave off a banking crisis. While negative rates might seem deleterious to the margins at the banks, having to write down enormous sovereign debts gone bad is far, far worse.
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GS putting a note out there for the sheeple to get long gold….. ?.. Makes me wanna believe another leg down in gold is upon us
“We would view a gold sell-off substantially below $1,250 as a strategic buying opportunity.”
Gold is currently at the $1250 area. They would view a sell-off substantially below $1250 as a buying opportunity. In other words, don’t buy until it sells off substantially from here.
I see gold getting back to $1100 before the election. Then buy the shit out of it when Trump becomes president.
if you take GS advice on gold investing or anything else, then you should not be investing.
GS is one of the most egregious RICO/organized crime entities on planet earth… too funny ppl still follow any of these banks or The Fed — they are just offering up noise to set you up for a fleecing… next crash they do it all over again, even worse..
I can report that the winds are real.
Blowing real hard now.
Sounds like the Amtrak approaching.
Good luck to you, sir!
Thanks Braveflaps.
Lights flickering once in awhile but still have electricity.
Gusting now to about 100+ and rain has been sideways for several hours.
Foliage looks good although pines and magnolia are bending (but not snapping).
Worse winds will be next few hours as eye passes to the north.
Stay safe sir. Hurricanes are really scary storms.