February 28, 2019 – Some may remember about 3 years ago when Gold was around $1100 and I was buying it that Goldman Sachs was forecasting a significant decline.
In the past week, Gold hit the high end of my current target range closing at $1347 on February 20th. Goldman Sachs is now bullish on Gold and forecasting it to hit $1425. Ahhhh, bullish right at the top. Good to see it.
Now for the decline to below $1250….(by March 1, Gold has already gone below $1300)
The stock market made an extremely rare ‘V-shaped’ bottom on December 24th. It has nearly recovered all of its losses. The indication is that 3rd Quarter GDP should recover nicely from a low figure in the 2nd Quarter. 1st Quarter GDP was announced at a still strong 2.6% today. I would expect to see it revised downward a bit in the future.