Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Gold Bug

Like Tree2Likes
  • 1 Post By swissaustrian
  • 1 Post By swissaustrian

Reply
 
LinkBack Thread Tools
Old 12-09-2012, 09:06 AM   #1
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
Lightbulb [Chart] Financial analyst gold price forecast failure 2007-2011



Another sign that we're not in a bubble yet. Analysts would project insane price targets rising to eternity:



Found the chart here:
http://dailyreckoning.com/this-x-fac...f-gold-stocks/

The author correctly notices that these price projections negatively influence the performance of pm miners.
PMBug likes this.
swissaustrian is offline   Reply With Quote
Old 12-09-2012, 10:33 AM   #2
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,064
Liked: 2454 times
That's an impressive collection of fail. Kudos Bloomberg analysts. Kudos.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 12-09-2012, 05:21 PM   #3
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
Originally Posted by PMBug View Post:
That's an impressive collection of fail. Kudos Bloomberg analysts. Kudos.
This chart doesn't just show what Bloomberg forecasted, it's the "Bloomberg median analyst forecast", i.e. it's the average of all analysts which are monitored by Bloomberg's database. It's basicly a compilation of all analyst opinions from the big banks/ brokerages / networks / research firms.
swissaustrian is offline   Reply With Quote
Old 12-10-2012, 06:04 AM   #4
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,064
Liked: 2454 times
I know. The median forecasts were pathetic, ergo most of the analysts in the pool failed miserably. Perhaps I should have originally said "Bloomberg sampled analysts".
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 04-10-2013, 06:18 AM   #5
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
After nearly every sellside analyst in the known universe has downgraded his gold price forecast in reaction to the current drop, it's finally Goldman's take:
Quote :
Gold prices currently struggle to shine as a safe haven and regain its past fame, prompting analysts at Goldman Sachs to slash their gold price forecasts. For the second time in less than two months, that is.

The gold team at Goldman now sees an average price of $1,545 an ounce in 2013, down from an earlier forecast of $1,610, with average prices falling even further to $1,350 in 2014 from $1,490 expected previously.
http://finance.yahoo.com/news/anothe...3Rpb25z;_ylv=3

We all know what this means... Goldman is sucking it's clients dry of gold.

Last edited by swissaustrian; 04-10-2013 at 06:24 AM.
swissaustrian is offline   Reply With Quote
Old 04-10-2013, 06:22 AM   #6
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,064
Liked: 2454 times
We must be near the bottom then.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 04-10-2013, 06:30 AM   #7
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
Hey, I was quicker than ZH:
http://www.zerohedge.com/news/2013-0...es-do-opposite
PMBug likes this.
swissaustrian is offline   Reply With Quote
Old 04-10-2013, 06:33 AM   #8
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
Goldman's internal price target is 1650:
Quote :
We therefore recommend initiating a short COMEX gold position as our ECS Top Trade #8, implemented through an S&P GSCI® front-month rolling index to further benefit from the contango in the COMEX future curve, targeting a move to $1,450/toz with a stop at $1,650/toz.
swissaustrian is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Options expiry manipulation of the gold price in one chart swissaustrian Gold Bug 43 11-28-2012 12:27 PM
World Gold Council: Gold Demand Trends data for 2011 PMBug Gold Bug 13 11-15-2012 07:38 AM
Friday forecast? benjamen PM Bug 4 08-24-2012 08:28 PM
Silver Forecast benjamen Silver Bug 24 06-27-2012 09:30 AM
Gold outperforms ALL major stock markets in 2011 swissaustrian Gold Bug 6 01-17-2012 10:17 PM


All times are GMT -5. The time now is 02:56 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.