| Goldman Sachs is maintaining its outlook for gold prices, forecasting the yellow metal at $1,785 an ounce in three months, $1,840 in six months and $1,940 in 12 months, citing subdued U.S. economic growth and further quantitative easing by the Federal Reserve later this year.
“We acknowledge, however, that continued strong U.S. economic data poses growing risk to our forecast for rising gold prices. Net, we reiterate our view that at current price levels gold remains a compelling trade but not a long-term investment, and we continue to recommend a long position in December 2012 Comex gold futures,” they said...............................................Full Article: Source
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