Just days after flip flopping from being bullish to bearish on gold, gold today rose more than US$20 to US$1,230 per oz.
Just two days ago, Goldman issued a letter to its investors to short gold, stating that systematic risks on banks are off and China's slowdown was due to fear more than actual weakness. Just as they did last year when they recommended its investors to short the Euro and what happened next was a major letdown as Draghi's much touted all gun's blazing revamp of policy became a water pistol party (as quoted from zerohedge).
Not to forget, wasn't it Goldman who predicted that the Fed will raise interest rates for four quarters to 1.50% by end of 2016. Well the Fed recent minutes seemed to sate otherwise.
That's 3 Oops! on your scorecard Goldman! And at what costs to the ivnestor who buy your recommendations.
Therefore it is prudent that investors do your own research rather than rely on "prestigious" research houses for research materials.
Always focus on the fundamentals instead. You will be on relative safe grounds.
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