Founders: Goldman Report Re-Raises to $3100-$3300 by Year End
Founders AM | Institutional Insights
Housekeeping: Good Morning. Full breakdown for Premium this week
Goldman Doesn’t Disappoint
(Something is definitely up. See attached)
They did it, as expected. Goldman raised its target to join the BOA/CITI duo in raising their price target higher than their peers, $3100 vs 3000/3000 and put out their own “outlier” price target of $33001 vs 3500/3400 respectively.
Their key reason: China continues to surprise in the physical market and GS must re-raise their expectations of Gold OTC flows again thus raising their targets.
It is exactly as described here in the past using various analogies: There are two straws draining London now. The China straw that flows through Switzerland on its way to Beijing, and the US straw flowing to Comex/US.
The other analogy described the end of globalism and the rise of Mercantilism as a signal for everyone to take their kickballs out of the school-community basket and go home
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