Gold could fall to $1,050 per ounce as Goldman
Sachs global head of commodities research Jeffrey Currie said in an
interview with a television. He told that it
would be a new 5-1/2-year low, although still above the psychologically
key $1,000 level that many market participants say is on the horizon.
- the price is on bearish ranging between 1,132.00 resistance and 1,077.19 support for slowly going to this 1,077.19 Fibo target;
- next targets are 1,005.90 and 1,000.00 psy level.
- the last target is 681.40 which is 7-Year Low.
So, the forecast of Goldman Sachs does not look to be very pessimistic one if we look at simple technical analysis situation for example.