Goldman Predicts Gold Prices to Climb to Highest Since 2013
- Bank analysts raise 12-month price forecast to $1,425 an ounce
- Standard Chartered’s Cooper cites speculative interest in gold
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Goldman Sachs Group Inc. is leading a pack of bullish voices cheering for gold.
The bank’s analysts led by Jeffrey Currie raised their price forecast for gold, predicting that over 12 months the metal will climb to $1,425 an ounce -- a level not seen in more than five years. Bullion has benefited as rising geopolitical tensions fuel central bank purchases, while fears of a recession helped boost demand from investors seeking “defensive assets,” they said.