Gold Price News: Goldman Analysts Make Conflicting Statements?

Gold bullion

Every once in a while even “the smartest guys in the room” can get their wires crossed. Or split… and so we get into today’s gold price news.

On Tuesday, analysts at Goldman Sachs issued contradictory recommendations about gold.  Goldman’s chief currency strategist, Jeffrey Currie, issued a recommendation citing an expected $1250 for the metal at the end of 2017.  Just a few hours later, Goldman’s chief technician, Sheba Jafari, issued a report stating, “Gold and Silver have targets in the area of 1,375-1,380 and 18.97”.  It’s certainly not unusual for two analysts to have different opinions.  But more relevant is the fact that Currie and Jafari are from the same company.

Experienced investors may remember years ago when Goldman was accused of trading contrary to the advice they were giving their clients. This practice is indeed frowned upon in the current Goldman Sachs environment.  But — with one foot in each corner — at least now Goldman and their clients are justified going either way.

To your Gold Enthusiast, it was especially interesting that the fundamental analyst saw a correction coming, while the technical analyst saw bullish gold prices continuing higher.  Today’s featured article gives some details on yesterday’s Goldman musings on gold price news.

Related: Are Terrorists Using This Currency to ‘Make and Move Money’? 

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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