Market Overview

Goldman Sachs Out with a Report Recommending Shorting Gold

Related GLD
StockTwits Taking Notes On Greek Banking Meltdown
Thoughts On Gold From The Man Behind Industry's Largest ETF
The Labor Market Could Bring Down GLD (Seeking Alpha)
Related NUGT
Why I'm Even More Bullish on Gold Bullion Now
Top Strategies for an Economically Engineered Market
Why 3 Terrorism Events Were A Non-Starter For Gold (Seeking Alpha)

In a report released by Goldman Sachs Wednesday morning, the company recommended shorting gold on a lack of appreciation from the Cyprus situation and the recent slowdown in the US recovery.

The report stated that Goldman is looking to close its long position on gold as it expects the decline in prices to accelerate, placing a year end price target on the commodity of $1,450/oz for 2013, and $1,270/oz for 2014.

Gold prices are currently down 0.50 percent to $1,578.70/oz.

Latest Ratings for GLD

Apr 2013Oracle InvestmentInitiates Coverage onStrong Buy
Apr 2013Oracle InvestmentInitiates Coverage onStrong Buy

View More Analyst Ratings for GLD
View the Latest Analyst Ratings

Posted-In: Analyst Color News Commodities Markets Analyst Ratings


Related Articles (GLD + NUGT)

Around the Web, We're Loving...

Get Benzinga's Newsletters