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.