Goldman Sachs Raises Gold Forecasts for 2008 Through 2010
By Stuart Wallace
Jan. 16 (Bloomberg) -- Goldman Sachs Group Inc., the world's largest securities firm, increased its gold forecast for 2008 through 2010 because of expectations for a U.S. recession in the second and third quarters and a weaker dollar.
The metal will average $915 an ounce this year, compared with an earlier estimate of $800, the bank said in an e-mailed report today. Gold will average $870 next year and $940 in 2010, from earlier forecasts of $852 and $907, the bank said.
