New GS Crystal Ball Forecast: "Cloudy"
Posted: Fri Jul 25, 2014 9:35 am
Early in the year Goldman Sachs predicted that gold would drop to $1,050 in 2014. (And why not $1,026.37, I wonder?)
Now the GS crystal ball for gold has been revised to $1200. Or did they revise it? They claim gold will still drop to $1,050 before springing up to $1200 because the lower value will be "generally short-lived" during "times of extreme declines in demand.”?
Is it all clear now??
I generally take a dim view of John Kenneth Galbraith's economic views, but he hit the nail on the head when he said that the only function of economic forecasters was to make astrologers look good.
Now the GS crystal ball for gold has been revised to $1200. Or did they revise it? They claim gold will still drop to $1,050 before springing up to $1200 because the lower value will be "generally short-lived" during "times of extreme declines in demand.”?
Is it all clear now??
I generally take a dim view of John Kenneth Galbraith's economic views, but he hit the nail on the head when he said that the only function of economic forecasters was to make astrologers look good.