Goldman Sachs is talking out of two sides of its mouth on gold, Business Insider reports.
Last week, the top commodities researcher there said selling gold on a Washington deal was a ‘slam dunk’ but now they’re pushing back the timeline for gold weakness to 2014.
We still expect gold to trade close to our near-term target of $1300/toz until the end of this year when our economists expect economic data to begin to show some confirmation of the economic improvement embedded in the 2014 US outlook.
Their targets haven’t changed but they sure sound disingenuous.