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Goldman predicts gold prices to climb to highest since 2013

From bnnbloomberg.ca

Goldman Sachs Group Inc. is leading a pack of bullish voices cheering for gold. The New-York based bank’s analysts led by Jeffrey Currie raised their price forecast for gold, predicting that over the next 12 months, the precious 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. Even exchange-traded funds are piling into bullion, taking their holdings to the highest since May. On the Comex in New York, ... (full story)

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  • Category: Fundamental Analysis