Friday, July 9, 2010

Goldman Frowns On Some Senior Producers

Goldman, Sachs has downgraded two major gold producers - Randgold Resources and Anglogold Ashanti - to "sell" from "neutral," on the basis that the rising price of gold and successful execution of their strategies is already factored into their price. Another producer, Hochschild Mining, was cut to "neutral."

Those downgrades clearly show skepticism about the gold sector. Although they may be rated, it's clear that Goldman's gold analysts don't expect a boom in the sector. It shows that the gold stocks are far from being in a manic phase (and that gold-mining top executives don't have a lot of political clout with respect to brokerage firms.)


  1. Bullion Exchanges is a reputable Bullion Seller located in the heart of New York City's Diamond District.

    Bullion Exchanges have a large inventory of products like, precious metals that range from the popular gold & silver to platinum & palladium.

    Bullion Exchanges are offering an enormous selection of products appealing to 1st time buyers and established collectors.

  2. eToro is the most recommended forex broker for beginning and advanced traders.