Market News: Goldman Sachs Now ‘Cautious’ on Gold & Silver

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Written by Mike Hammer

Gold and silver both tumbled Monday following news of hope in the US-China trade talks. A bearish COT report signaled a drop even before the trade talk news as we reported last week. We didn’t expect the drop to happen so soon, or so quick. Once again, the market proved it always has the final say in these things.

But drop it did, and those of you who positioned yourself correctly made some nice, fast money. So now of course, Goldman Sachs, our favorite Vampire Squid, comes out on both sides of the table.

Today’s featured article will be their latest projection of metals price targets. We won’t spoil it for you on whether they’re higher or lower.  To balance that, here’s an article indicating that they’re also saying almost exactly the opposite. Never a dull day in the depths of the ‘Squid.

Continue reading at ForexLive.com

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

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 keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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