Goldman Sachs and Bank of America end bearish positions on precious metals

Goldman Sachs and Bank of America end bearish positions on precious metals. A few months ago, things were looking grim for precious metals like gold and silver. Many analysts were predicting a lengthy downturn that would erase the gains in these assets. However, precious metals have proven to be more resilient than expected and this caught many investors off guard. Yesterday, Goldman flipped from a negative to positive position on gold after gold prices gained over 5% in one day. Today, Bank of America announced it ended its short position against silver and now has a neutral position on the precious metal. (VIEW LINK)