Saturday, January 12, 2008

Gold Forecasts Raised by Goldman Sachs on Weaker Dollar Outlook

By Stuart Wallace

Jan. 11 (Bloomberg) -- Goldman Sachs Group Inc. increased its three, six and 12-month forecasts for gold because of a weaker outlook for the U.S. dollar.

Gold will trade at $885 an ounce in three months, from a previous estimate of $795, the bank said in an e-mailed report today. The metal will reach $900 in six months, from a previous forecast of $785, and $800 in 12 months, from a previous prediction of $750, the bank said.

Gold for immediate delivery was trading at $894.61 an ounce as of 8:35 a.m. in London.

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