Gold To Trade At $1,425 In 12 Months, Boosted By EM Demand -Goldman/Kitco
"Goldman Sachs is upbeat about gold prices, looking for the metal to draw support from emerging-market demand and rise to around $1,425 in 12 months. In a research report late Monday, Goldman was bullish on commodities generally due to easier monetary conditions, calling for a 10% three-month return on the S&P Goldman Sachs Index and a 9% return on a 12-month basis.
'In our view, risks are starting to shift to the upside, particularly in emerging markets,' Goldman said. 'Unlike last year, the Fed is on hold, interest rates are lower and oil prices are weaker, all combining for easier financial conditions than last summer/fall.'....Gold has climbed by around 5% since late May, helped by worries about a trade war and disappointments in U.S. economic data, the investment bank said."