Overnight news: Goldman Sachs says Gold is a ‘Slam Dunk’ sell after shutdown

NOTE: This isn’t new, it was out overnight

A couple of reports of the call from Jeffrie Currie, Goldman Sachs’s head of commodities research.

• “Once we get past this stalemate in Washington, precious metals are a slam dunk sell at that point,”
• “You have to argue that with significant recovery in the U.S., tapering of QE should put downward pressure on gold prices.”
• Has a target for gold prices next year at $1,050 an ounce

Currie and Ric Deverell, the head of commodities research at Credit Suisse AG, both said on a panel at the Commodities Week conference in London today that selling gold is their top recommendation for trading in raw materials in the next year.

Goldman’s Currie Says Gold Is ‘Slam Dunk’ Sell After Shutdown