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>> GOLDMAN SACHS Latest News

APR 23, 2013 - Business Insider

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Goldman Sachs Just Covered Its Gold Short

Goldman Sachs has covered its gold short. Here's why: We closed our short trading recommendation on gold  We have closed our recommendation to short COMEX Gold, as prices  moved above the stop at $1,400/toz. We have exited the trade significantly  below our original target of $1,450/toz, for a potential gain of 10.4%. The  move since initiation was surprisingly rapid, likely exacerbated by the  break of well-flagged technical support levels. Our bias is to expect further  declines in gold prices on the combination of continued ETF outflows as  conviction in ... Read More

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