Goldman Sachs Analyst Places 12 Month Target for $1650 Gold
Goldman Sachs is bullish on Gold, raising their 12 month forecast to $1650 ounce.
The firm released a report, authored by David Greenly and Damien Courvalin, that cites expectations for the Federal Reserve to further increased in the money supply in the United States, and the prospect for long-term interest rates to continue falling.
The report calls for a 3-month target on gold of $1400 USD, 6-month target of $1525 and 12-month target of $1650 per ounce.
It should be noted that there was also considerable downside risk, should the Fed decide to tighten the monetary policy earlier than expected.
You can download the report on Mining Stock Report.
Download: Goldman Sachs Gold Report (499.5 KB)
Analyst Report calling for 12 Month Target for Gold of $1650
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