| As gold dropped below $1,200/oz, bearish analysts renewed their dim outlook of any turnaround for the precious metal soon. Goldman Sachs reiterated its $1,050/oz call in 12 months, according to Bloomberg, with others joining the chorus.
Speaking to the WSJ Adam Klopfenstein of Archer Financial Services declared the break below $1,200 "just another sign that the metals trade is over." “The inevitable trend for gold is lower, and it’s a long drop from here,” he is quoted as saying. As previously noted in these pages, gold's renewed fall this morning came after a strong jobs report, with the U.S. government reporting the jobless rate at 5.9 percent...............................................Full Article: Source
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