Salient to Investors:
- Jeffrey Currie at Goldman Sachs predicts gold to fall to $1,050 by year-end as the economy improves and there is more confidence in the recovery, without significant inflationary concerns. Goldman predicts higher interest rates in Q3, 2015.
- Last week, net-long positions in gold rose to their highest level since November 2012, while short holdings fell for the 5th straight week. Hedge funds increased gold holdings for the 5th straight week.
- Michael Haigh at Societe Generale sees a drop to $1,245 by Q4.
- George Gero at RBC Capital Markets sees too many bears despite gold climbing and says geopolitical tensions and economic surprises are attracting more investors.
- Jack Ablin at BMO Private Bank said supplies have rebounded so quickly that people are now more comfortable about the global crop situation.
Read the full article at http://www.bloomberg.com/news/2014-07-13/goldman-stays-gold-bear-as-bullish-wagers-increase-commodities.html
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