JP Morgan bullish on precious metals in 2008 - strongest sector! - contradicts Goldman Sachs view!
Not that I trust either JP Morgan or Goldman, since I think they routinely play the market for their own insider gains with no regard for the average investor whatsoever... but after so many precious metals investors panicked last week when Goldman declared its prognostication for a decline in gold in 2008, I do find it interesting that they have this fundamental difference of opinion on this very important topic. Of course, if we're looking for suggestions of which firm might be more likely to deliver propaganda with its headlines, consider the sheer number of prominent ex-Goldman Sachs executives who now hold key positions within the Bush White House.
Here's the JP Morgan excerpt in a reuters piece:
"U.S. bank JPMorgan said on Friday precious metals could
rally in 2008 as the U.S. dollar falls and supply flattens,
ranking the sector the strongest among all commodities for next
And for the piece on Goldman Sachs' links with the administration:
And for an article on Goldman Sachs' outlook for gold in 2008, which I would take with a grain of salt the size of the moon...: