Last Updated :
09 August 2011 at 12:15 IST
Gold to hit $1860 next year : Goldman Sachs
LONDON (Commodity Online) : Major Investment bank Goldman Sachs said gold prices to continue to climb in 2011 and 2012 given the low level of US real interest rates and will reach $1,860 an ounce in 2012.
In a note to clients on Monday, Goldman Sachs raised its 12-month prediction for the gold by 7.5 percent and said the commodity is still underbought, despite an array of investors tapping into gold to shield against market turmoil.
The group’s economists said the unsettling sovereign debt issues, along with a low interest rate environment in the US, will continue to boost the metal’s price.
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