Gold Canyon Resources Inc V.GCU

Goldman Sachs says to short the metals...

[20/20/12]

https://seekingalpha.com/currents/post/940751?source=email_rt_mc_readmore

 

Doug Eberhardt Comments (952)

 

I am jumping the gun on my next article I am submitting to Seeking Alpha, but let's go back and see what Goldman said in November and December of 2011 and see how "prescient" those calls were (they reiterated their earlier call to hold gold through 2012 in November 2011 and again in December 2011).

Here is what I wrote in November 2011:

Just heard CNBC say that Goldman Sachs is reiterating their call for gold through 2012. Personally, I don’t trust anything Goldman Sachs says. They are a holding bank and a puppet of the Federal Reserve. The same goes for J.P. Morgan. Why exactly are they both holding banks? Why have they involved themselves heavily into the gold and silver markets? Again…stay tuned… Reference spot price of gold right now $1,780.90 and silver $34.28 with the U.S. dollar index sitting at 77.53.

https://bit.ly/12V0tDH

Here is what I wrote in December 2011:

While one can give Goldman Sachs the benefit of the doubt about holding through 2012, I found their timing rather odd to announce this “reiteration” of their point of view at a time when the dollar was moving higher because of the mess in Europe. Anytime I hear things that don’t make sense like this, I immediately think market manipulation. My brain is trained to hear the opposite. In this case, I was right. Gold is down $180 from that point in time and silver fell 24% since that call hitting a low of around $28.90 this week. Meanwhile, the Dollar Index has continued to climb past the 80 mark. They didn’t see this coming?

https://bit.ly/YQNnYS

Now Goldman Sachs says to short the metals when gold is in the $1,500 range, and silver in the $27 range? Well who do you think is buying?

My supplier said there are no sellers of the physical today with this price drop, only buyers. There are also shortages and higher premiums on most every silver product. You think Goldman doesn't know this?

12 Apr, 02:49 PM Reply Like 5

 

Jason Burack Comments (472)

 

Goldman is probably in the process of closing out their shorts, adding more physical and about to go long. The fractional reserve paper markets are obviously still in control of this market setting the price and supply/demand fundamentals for physical are being completely ignored in the short term.

[jester00]

Exactly right.  Goldman says to short the metals because................................................they are short the metals and need to close their positions.  Today was a technical move and nothing else. 

[jester00]

Exactly right.  Goldman says to short the metals because................................................they are short the metals and need to close their positions.  Today was a technical move and nothing else.