Despite Selloff, Goldman Doesn't Budge on Gold Forecast
Tweet
Share
E-mail
Despite a major selloff in the price of gold, which saw the precious metal drop below 1600/oz, Goldman Sachs analysts are standing by their forecast of $1840/oz for 2012. The forecast, if right, would mean a 16 percent rally in the precious metal.
To support their forecast, Goldman analysts point to a potential third round of quantitative easing. Goldman's hunch might pan out, considering recent developments in Greece.
SPDR Gold Shares (NYSE: GLD) ticked fractionally higher in early trading, last tradign at $154.65, up 0.12%.
To support their forecast, Goldman analysts point to a potential third round of quantitative easing. Goldman's hunch might pan out, considering recent developments in Greece.
SPDR Gold Shares (NYSE: GLD) ticked fractionally higher in early trading, last tradign at $154.65, up 0.12%.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank calls Treasury buyback doubling similar to ’operation twist’
- Texas Stock Exchange wins first primary listings with TCBI’s ETFs
- Oil prices edge up as investors weigh US-Iran talks deadlock against lower demand
Create E-mail Alert Related Categories
Commodities, ETFsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
