Goldman Sachs Group Inc. raised its futures forecasts to $1,645 an ounce, $1,730 an ounce and $1,860 an ounce on a three- month, six-month and 12-month horizon as it expects real U.S. interest rates to stay lower for longer. The previous estimates were $1,565, $1,635 and $1,730 an ounce, it said in a report.
“We continue to recommend long-trading positions in gold,” the bank said.
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