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Goldman on gold: It's heading to $1,000

Oct. 22, 2015 3:34 AM ETGLD, IAU, GTU, DGL, DGP, DZZ, DGZ, UBG, UGL, GLL, SGOL, PHYS, AGOL, UGLDF, DGLDF, OUNZ, GYEN, GEUR, GLDI, QGLDXBy: Yoel Minkoff, SA News Editor59 Comments
  • Gold has recaptured its shine in recent months, but that doesn't change the cloudy outlook for the precious metal over the longer-term, warns Goldman Sachs, which sees prices falling to $1,000 in 12 months as the Fed normalizes monetary policy.
  • The yellow metal has rallied almost 8% since mid-July reflecting a reduction in expectations for a U.S. rate hike in 2015, a spike in global equity market volatility and lower U.S. long-term real rates. It's currently trading at $1,168 an ounce.
  • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX

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