Wednesday, February 17, 2016

Jeffy Currie's tune is getting a bit old

BI - Jeffy Currie at GS says (guess what) short gold. He's still sticking to his $1000 call:

Currie has a three-month target of $1,100 per ounce and a 12-month target of $1,000.

And the problem I see with your call, Jeffy, is that

a) you've been wrong for 2 years now, and

b) nobody with a brain is going to short gold anymore now that it's demonstrated the ability to fly up 20% off its lows in the space of 2 months; that's not the sort of potential faceripper that you want to go to bed with if you have any concerns about the long-term viability of your prop desk, speaking of which:

Looks like GS just spent two months underperforming against gold. That's sad.

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