| How low can gold go? Chen Lin expects a probable near-term low of $1,000/ounce. The author of the What is Chen Buying? What is Chen Selling? newsletter says that at that price we can expect a bloodbath of companies, both large and small. Gold cannot be kept down forever, however, and once the bottom is in, those miners that have survived will be in an enviable position, able to buy lucrative assets at bargain prices.
I am not a big fan of conspiracy theories, but Goldman published a report in early September calling for $1,000/oz gold by the end of 2014. As I saw it, this call was quite aggressive. Goldman will lead and probably has been leading a group shorting gold aggressively. Kitco has published a report arguing that should gold fall to $1,000/oz, this would be catastrophic for most gold miners. The shorts, unfortunately, probably don't care about gold mining companies and the jobs of those who work for them. They just want to make money. If the gold miners go under, they'll be very happy.......................................Full Article: Source
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