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explanation, page-24

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    Yesterday I posted some very strong fundamentals for MML as researched by three different brokers who all assumed quite low gold prices in their estimations of earnings.
    GS was one of those that are telling us gold prices will go lower. Do they actually believe it though? If POG remains at higher prices than assumed in those research notes (or continues to trend higher) then MML looks like an outstanding buy rather than just a “buy” at significantly lower than spot gold as they assumed.

    Now to what GS did after issuing a sell on gold a few months ago.

    “Guess Which "Bearish" Bank Bought a Record Amount of GLD In Q2
    In early April, the status quo was exuberant when none other than Goldman Sachs issued a "sell" on the barbarous relic that has become so indicative of the exuberance of central planning

    At the time, we were skeptical (to say the least) and, just for extra Muppetting, the bank also suggested its clients buy Treasuries.

    Well, now that the full details of holdings changes have been released for Q2, it is perhaps clearer than ever before that as the bank was telling its clients to "sell, sell, sell" it was itself "buy, buy, buy"-ing the Gold ETF (GLD) with both arms and feet. In Q2, Goldman Sachs added a stunning (and record) 3.7 million 'shares' of GLD. As Paulson dumped his GLD, Goldman lapped it up to become the ETF's 7th largest holder.”

    http://www.zerohedge.com/news/2013-08-30/guess-which-bearish-bank-bought-record-amount-gld-q2


 
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