Chase Opposes Goldman Sachs’ Opinion on Gold

JP Morgan Company
Written by Mike Hammer

A few days ago, we picked on Goldman a bit, which some of you pointed out might have been a little aggressive — given the very passive nature of the cited report. So today we’ll make some amends by being mostly kind to JP Morgan Chase. Yes indeed, all the big guys are apparently now staking out a claim in the gold opinion world, and JPM’s is much different than GS’s.

As a teaser, GS’s report said basically that, “gold is back”, while today JPM says “maybe not so much.” JPM gives their reasons and the places they are looking to in these times of increased volatility. Well hey, they’re trying to be helpful. What do you think? Is the US Dollar, gold, or somewhere else the place to run to these days? Let’s discuss in the Comments below.

Continue reading at Bloomberg.com

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he 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 a well-known financial planning firm 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 he worked first for a small manufacturing consulting company, then a major 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, spoken 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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