I read an article yesterday on Kitco.com that was posted from a commentary by BNP Paribas, one of France’s largest banks. Their senior economist has raised his gold average price for 2016 to $1,245.
Sounds possible. But as you read the article, it becomes clear that this wizard called for an average price in 2016, late last year of $960 for 2016. Now, gold at that time was $1,070, so for his average to be realistic, he had to be expecting gold to drop below $900, for a least a period of time. Duh, now, with gold over $1,300 he figures the average may come in at $1,245 and he remains very bearish.
How does this guy, cash his paycheck, without falling down from laughter.
This is a senior economist at one of the largest French banks. Must be related to the president. What a farce.
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