The Gold Report: Goldman Sachs recently downgraded its 2013 gold forecast from an average of $1,800/ounces ($1,800/oz) to $1,610/oz due to interest rates rising in the U.S. Could this bearish sentiment actually be bullish for gold?
Joachim Berlenbach: I think the report was very one sided. Focusing solely on the U.S. interest rates does not provide a full picture. I would have liked to see a balanced look at where the real demand is coming from. If the report had said, for example, how much gold the Chinese central bank is actually buying compared to its reported purchases, it would have been a much … [visit site to read more]