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They Truly Scared UsContributed by Olaf Sztaba This week, Goldman Sachs came out with a bold, flashy report: Short gold in '08. The investment bank cited a litany of reasons why this is one of their top ten trades for 2008. It was picked up by every major media outlet and certainly resonated with many investors. They truly scared us. Responding to the news, we decided to review our long-term view on Gold and Gold stocks. Here is our response: Some pullback may occur given that Gold recently rose from $650 to $834 and therefore a 1/3 or 1/2 correction could occur ($770 or $740, respectively); however, our long-term chart continues to suggest higher targets, potentially: $1,000 in 2008 For individual gold stock recommendations sign in for a free trial at www.na-marketletter.com Written on About NA-Marketletter 321gold Ltd |
Nov
30, 2007