VIDEO: Goldman’s ultra-bearish, ‘cocky’ gold call

“Once we get past this stalemate in Washington, precious metals are a slam dunk to sell,” Goldman Sach’s head of commodities research Jeffery Currie said at a conference today in London.

Currie claimed that “significant” economic recovery in the US and the tapering of QE will increase downward pressure on gold, taking the price to $1,050/oz by year’s end.

But for the moment, as the US government shutdown drags into its second week, gold is holding steady at around $1,320/oz.