2009-07-12 6:36 pm
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I've been keeping track of Goldman and their so-called price targets:
Goldman Sachs lifts gold price forecast to $1,000/ozGold peaked at March 17, 2008 and fell all the way to 700 before being around 900 right now.
Goldman Raises Second-Half WTI Oil Forecast to $141 (Update2)
Goldman now forecasts West Texas Intermediate, the benchmark crude grade traded in New York, will average $141 a barrel in the second half of the year, up from its previous forecast of $107. Prices will rise further in 2009, averaging $148 a barrel, the bank said.
Oil peaked on July 13, 2008 at a hair above 147.5 before crashing.
Goldman now forecasts oil at $85 just a week before our current short term peak.
One does wonder how Goldman is so consistently wrong yet turned in one of the largest trading profits ever last year.
An ulterior agenda? No, it can't be.
