Goldman Sachs Thinks a Tremendous Plunge In Gold Prices Is Coming

“In a September report, the investment bank maintained its outlook that gold prices will end the year at $1.250 an ounce” writes Thestreet Guest Contributor for Goldman Sachs has been fairly bearish on gold, even as prices pushed to a one-year high last month.Although gold has found initial support, bouncing off Friday’s two-month low, one bank sees further technical weakness with the potential for prices to fall 14% from current levels.In the current technical environment, the analysts said that gold could eventually retest support around $1,100 an ounce, however, they said that they expect that support to hold.

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