| The veteran Sydney yellow metal analyst, now sailing under his own flag at Eagle Research, finds some inexplicable contradictions to the events of April. While many investors will be throwing up their hands with gold plunging $US24 an ounce on Friday to close at $US1388/oz, they should take heed of Goode's analysis showing how recent weakness tends to be more about hedge funds than physical demand.
Goode is especially interested in the role of Goldman Sachs over two weeks in April. He points out that the advice went from "buy gold" at $US1570/oz to "short gold" on April 10, sending the metal down $US140/oz in one session. Then on April 23 Goldman advised investors to close their gold short positions as the metal's price could rise...............................................Full Article: Source
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