Gold may reach $1,940/oz in the next 12 months: Goldman Sachs

Gold is still on the way up, and is likely to hit a new high this year. How high it goes depends on both monetary policy and the Chinese appetite for shiny metals, said Goldman Sachs in a research note.

According to the Goldman Sachs, gold prices have been rising for 11 years, and there seems to be no danger they will drop any time soon. The gauge of future price swings is near a five month low.

On January, a Goldman Sachs report predicted that Gold futures would reach $1,940 per ounce in the next twelve months.

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Posted by admin on Feb 1 2012. Filed under Gold predictions. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry