[Chart] Financial analyst gold price forecast failure 2007-2011

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That's an impressive collection of fail. Kudos Bloomberg analysts. Kudos.
 
PMBug said:
That's an impressive collection of fail. Kudos Bloomberg analysts. Kudos.
Click to expand...

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.
 
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".
 
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:
http://finance.yahoo.com/news/anoth...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

We all know what this means... Goldman is sucking it's clients dry of gold.
 
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We must be near the bottom then.
 
Goldman's internal price target is 1650:
 
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