Goldman Sachs Sees Gold Reaching $1,650 Over Next 12-Months
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Predicting that the price of gold will continue higher, Goldman Sachs today lifted its forecast on the precious metal.
Goldman sees prices hitting $1,400 an ounce in three-months, $1,525 in six-months and $1,650 in twelve-months.
The firm stated, "with U.S. real interest rates pushing lower off the slowdown in the pace of the U.S. economic recovery and the growing prospect of another round of quantitative easing, we expect gold prices to continue to climb."
The price of gold is currently lower despite the upbeat comments from Goldman. December gold futures last sold at $1351.20, down $3.20.
Related ETFs: (NYSE: GLD), (NYSE: GDX), (NYSE: IAU).
Goldman sees prices hitting $1,400 an ounce in three-months, $1,525 in six-months and $1,650 in twelve-months.
The firm stated, "with U.S. real interest rates pushing lower off the slowdown in the pace of the U.S. economic recovery and the growing prospect of another round of quantitative easing, we expect gold prices to continue to climb."
The price of gold is currently lower despite the upbeat comments from Goldman. December gold futures last sold at $1351.20, down $3.20.
Related ETFs: (NYSE: GLD), (NYSE: GDX), (NYSE: IAU).
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