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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Goldman tells clients to sell gold; did same in November 2007, gold then rose 12%

Posted on 10 October 2013

It is worth remembering that Goldman, to much fanfare and media attention, “told clients” in November 2007, to sell gold. On November 29, 2007, Goldman recommended that investors sell gold in 2008 and it named the strategy as one of its ‘Top 10 Tips’ for the year.
Gold subsequently rose nearly 6.4% in December 2007 alone - from $783.75/oz to $833.92/oz. Gold then rose another 5.8% in 2008 - from $833.92/oz at the close on December 31, 2007, to close at $882.05/oz on December 31, 2008………………………………………..Full Article: Source


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VRS - who has written 40108 posts on Opalesque Commodities Briefing.


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