Tag Archives: gold

GOLDMAN SACHS – THE ULTIMATE CONTRARIAN INDICATOR

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.

The Mann