Goldman’s forecast for 12-month gold prices rose to $2,300

Goldman Sachs raised its 12-month gold price forecast to $2,300 per troy ounce (toz), aided by expectations of more downside in U.S. real interest rates and a favourable environment for the safe-haven metal.

The surge in gold prices is being driven by a potential shift in the U.S. Fed towards an inflationary bias to account for political tensions and an expectations that coronavirus infections will rise, Goldman said.

Increased safe-haven buying has pushed spot gold  ..