BTW yes, agree, Goldman Sachs' published outlook for gold is probably about the best contrarian indicator you can find outside of Cramer.

I think it's already been proven, to the tune of millions of dollars in fines, that GS publishes opinions with the explicit intent of creating suckers to take money from.

When the most conservative downside target I can find for gold is $900, while most NPVs are calculated at $850, I tend not to worry about the near future for gold. If it ever breaks below 4 digits again, I may start rethinking things and look for another sector to learn... copper, probably.

When it comes to gold, amazingly, I follow Grandich's opinions.