Terry Sacka Addresses Goldman Sachs Prediction for Gold to Tank in 2014

WEST PALM BEACH, Fla. - Jan. 15, 2014 - PRLog -- In a recent report of the top 10 market themes for 2014, Goldman Sachs forecasted a 15 percent decline in gold warning of a growing downside risk for commodities. This forecast would bring gold to $1,057 an ounce - a price not seen since the beginning of 2010. With better-than-expected U.S. economic data raising the possibility that the Federal Reserve may scale back its $85-billion-per-month bond-buying program sooner than expected, gold was impacted even further.

Jeffrey Currie, Goldman Sachs head of commodities research, provides his outlook for commodity markets in 2014 and explains the volatile start to the commodities season. Currie also gives his expectations for the U.S. economy.

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"Our view there really is driven by the expectation of the U.S. economy reaching escape velocity," Currie said on "Squawk on the Street." "Essentially when you think about a short on gold ... it's essentially just a bet on a substantial recovery in the U.S. economy."

Gold Bugs Remain Unfazed

Victor Thianpiriya, commodities analyst at ANZ, expects the metal to hit $1,450 by the end 2014, which equates to a 16 percent increase, mainly driven by the robust physical demand from China – the world's largest jewelry market.

He doesn't expect gold to get caught in a major sell-off when the Fed decides to taper. "Gold has priced a lot of that in. We don't think the reaction of markets will be quite the same. China has surprised the market on how strong demand has been. There's also potential for Indian demand to come back," he said.

Chinese consumer demand totaled 210 metric tons in the third quarter, a rise of 18 percent compared to the same period last year, according to the World Gold council.

Terry Sacka AAMS, financial expert at Cornerstone Asset Metals has his own unique perspective on what is occurring in the markets. "Regarding gold, silver and precious metals miners, we have seen a strong bottom put in, may test lower but any lower from here only insures a greater upside later.  It’s not that gold is a loser or down, to the contrary, the COMEX has sold 69 ounces of gold for every 1 ounce in registered vaults for delivery (wow), pure derivative paper manipulation so of course it seems down."



He went on to address the physical demand by saying "The fact is most savvy investors who will admit it are closing the paper and buying physical, physical demand is incredibly strong worldwide, massive gold leaving Shanghai, our COMEX has literally been cleaned out, inventories are extremely low, and they say the year is bad," he said.

His prediction as to how and when gold will recover, "It’s just the true price discovery is fixed  LITERALLY and manipulated through paper means. Stop fixing the price and manipulating on paper and you will see real discovery. Unfortunately the powers to be cannot have it and I completely understand, it’s a perception thing to the fiat viability.  All I know is all through history every single fiat currency goes to zero.  Something isn’t quite right, in the absence of logic and real sound economics we stand firm with physical precious metals as a store of value over time. The miners will be a lagger but will return if not next year definitely in 2015."

Mr. Sacka's website features interesting videos providing historical insight into the power of gold and silver. He is also a regular guest on "The Wealth Transfer Show" with Charles Vance airing on the Christian Television Network, where he speaks about gold and silver from a biblical perspective being "God's money."

About Terry Sacka
Terry is a financial analyst and accredited asset management specialist (AAMS) at Cornerstone Asset Metals, a private bullion dealer located in Jupiter Florida. The company enables investors, both large and small, to use metals such as gold, silver, platinum and palladium as an effective hedge for their retirement accounts against inflation. The company mission is to put people back in charge of their wealth through tangible assets that have been used as a medium for exchange since the dawn of civilization.

For more information visit the company website at http://www.cornerstoneassetmetals.com

Cornerstone Asset Metals 601 Heritage Drive, Suite 104 Jupiter, FL 33458 (888) 747-3309