Gold update

Goldman Sach’s new targets for gold are 2013: 1800/oz & 2014: 1750/oz, citing growing risks. I wrote the following in my previous post:

“…gold…being driven by the fear of a big future plunge in fiat currency values & declining cash purchasing power.”

“There’s a fair chance that this fear could be overdone…”

“Im a gradual buyer at 1550..”

I’m therefore sticking to my buying target of about 1550/oz & am glad that a big investment bank generally agrees with my view.

 

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