From BI: Last Wednesday, Goldman's commodities team, led by Jeffrey
Currie, issued a short gold trading recommendation to clients, right before the
market completely melted down. In a new piece today – titled "Commodities
Update: There are weeks when decades happen" – Currie and his team argue
that the latest events in the gold market are a further indication that the run
gold has taken over the past decade is over.
At the same time, it seems like something similar is
happening in the natural gas market – but there, it's bullish. The Goldman
analysts even call it "the new safe haven."
:
Over the previous five years the two highest conviction
trades in the commodity complex were being long gold in response to the
debasing actions of central banks around the world and short natural gas in
response to the shale revolution. These two trends have now likely reversed and
our conviction in these new trends has risen significantly over the past month
as we have introduced both short gold and long natural gas trading
recommendations….
To find out more (and see the charts) check out http://www.businessinsider.com/goldman-short-gold-long-natural-gas-2013-4
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