Gold Outlooks Raised for Cash for Gold Forecasts

It was announced on Friday, December 12th that Goldman Sachs has “upped” their forecast on gold as a safe haven.

Goldman Sachs has raised both gold and silver forecast as the dollar’s stability remains in question, amid the current financial crisis. The following has been reported (all prices per ounce):

• Three-month gold forecasts have been raised from $690 to $700
• Six-month gold forecasts have been raised from $730 to $785
• Twelve-month gold forecasts have been raised from $710 to $795
• Three-month silver forecasts have been raised from $9.90 to $10.04
• Six-month silver forecasts have been raised from $10.30 to $11.08
• Twelve-month silver forecasts have been raised from $9.20 to $10.30

Goldman’s reported, “We have long held that gold trades inversely with the U.S. dollar, which historically has explained over 90 percent of gold price movements”.

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