Precious metal investments: news, consultancy, trends, reports & more!
HomeMarket WatchHard AssetsInvestor's GuideDownloads

Did Goldman Sachs Manipulate Gold's Price?

Conclude is quoting Jim Sinclair (also known as "Mr.Gold"), who stated that Goldman Sachs is manipulating gold's price down only to be able to buy back cheaper.

This November, gold dipped below the 1,700 $ psychological line, touching 1,693 $.

During 2012, various agencies, banks and other financial institutions have estimated various highs for gold's price for the last part of the year - most of these predictions were telling about figures above 2,000 $, some as high as 2,400 $, even 2,500 $!

Despite the "QE infinity" stimulus launched and despite the re-election of Barack Hussein Obama and several negative US economy-related figures, the price of gold didn't manage to get past the 1,800 $ price level. In fact, we can affirm that it can barely hold 1,700 $ in mid December 2012.

Since late October until mid-December, gold's price has been oscillating more or less.

Jim Sinclair believes that Goldman Sachs is behind some of the downwards-price manipulation.

In fact, it's interesting to observe that the outlook for gold's target has been recently reduced by Goldman Sachs to 1,825 $ for the next 3 months, 1,805 $ for the next 6 months, 1,800 $.

Obviously, Goldman Sachs is suggesting cheaper gold prices by lowering the outlook levels for the coming period.

Other analysts have followed predicting gold peak price for 2013 to be below 2,000 $.

comments powered by Disqus

Prime Values on FacebookPrime Values on Twitter

about us    terms of use    privacy policy    disclaimer    partners    advertising    contact us