By Francesca Freeman
LONDON (MarketWatch) -- Investment bank Goldman Sachs GS -0.16% Monday raised its forecasts for gold and silver prices, citing expectations of continued low interest rates in the U.S. and support from the ongoing euro-zone financial crisis.
For gold, the bank increased its three-month forecast by 7.0% to $1,760 a troy ounce from $1,645/oz, its six-month forecast by 5.8% to $1,830/oz from $1,730/oz and its 12-month forecast by 3.8% to $1,930/oz from $1,860/oz.
The bank increased its three-month silver forecast by 6.9% to $29.40/oz from $27.50/oz, its six-month outlook by 5.9% to $30.60/oz from $28.90/oz and its 12-month forecast by 3.5% to $32.20/oz from $31.10/oz.
