Gold News: Goldman Sachs Bullish On Gold

Goldman Sachs, the famous vampire squid, is well-known for changing their mind about gold. Today in gold news, after 5 years of being bearish on gold, the bank has turned bullish on our favorite yellow metal.

It usually pays to listen to what Goldman says, partly because they tend to give hard data, and partly because you can use that data to make your own decisions.  But we do not advise you to always follow their recommendations, as that can prove catastrophic. Instead, you should view Goldman as a source of information – keeping in mind that Goldman likes to “talk their own book” – and use their information to come to your own conclusions.

These days Goldman is talking about things like peak gold, and how the world may run out of mineable gold in 20 years. If correct, that might lead one to believe gold prices will rise; gold remains the most reliable store of wealth despite recent challenges from cryptocurrencies. Here at The Gold Enthusiast, we believe warnings of peak gold are premature, but we’ll take perceived higher value and rising gold prices any day.

Goldman goes on the record with two value buys which this Gold Enthusiast will avoid for now, preferring to find his own value plays, which usually don’t involve stretching gold news very far.  You can read about Goldman’s current view and their picks in today’s featured article.

 Related: Gold Sales Are Rising at This Mint – Here’s Why

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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