MW: Goldman: Gold likely to rise to $1,650 in one year
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Gold is on track to rise to $1,650 an ounce over the next 12 months, and could surpass that level, analysts at Goldman Sachs said in a note to clients Friday. This week's rally moved "gold prices more in line with the low U.S. real interest rate environment," the analysts said. Prices are near Goldman's three-month target of $1,400 an ounce and will continue to rise to meet the firm's 12-month price target of $1,650 "as U.S. monetary policy remains accommodative and U.S. real interest rates remain low," they said. Gold for December delivery traded $13.30 higher at $1,396.60 an ounce on the Comex division of the New York Mercantile Exchange.
