(WRONG AGAIN?)..."Given that gold ended 2014 nearly $200 higher than Goldman Sachs’ extremely bearish forecasts in 2014 – a forecast repeated several times during the year – and has since risen by nearly a further $100 since, the investment bank’s analysts have been forced to revise upwards their predictions for gold’s performance this year. But far from seeing much of an upturn, they have revised nearer term forecasts to take account of the current level as a matter of reality, but see gold turning down in Q3 – and falling back to $1,000/oz by end 2016. Thus its revised forecasts are for 3-, 6- and 12-month average gold prices at $1,290/oz, $1,270/oz and $1,175/oz but with a continuing downturn throughout 2016 down to the predicted $1,000 level by the end of that year. That’s even lower than the $1,050 year-end price initially predicted for 2014. Gold investors will surely hope the bank is way out yet again, but as we have pointed out before such forecasts from the world’s top investment bank tend to colour big money investor views accordingly." http://www.mineweb.com/news/gold/goldman-sachs-stays-ultra-bearish-gold-long-term/