Usually it is just the gold bugs who make big forecasts about the price of gold going up, and up, and up.
But this time the prediction is coming from Wall Street bank, Goldman Sachs.
Do they have a good track record when it comes to predicting gold prices? Well, their prediction from a year ago is only $12 off where the price of gold stands today.
Being a bank, they offer some caveats. They say that if the Feds tighten monetary policy and the US economy strengthens significantly over the year ahead, gold prices won’t rise in the same way. But they go to say that they don’t think this will happen.
Bottom line? If you are wondering whether now if a good time to buy more gold, even with prices at record levels, the answer is probably yes.
It seems that gold prices will continue to rise over the months to come, until and if the US economy turns around and gets a lot stronger than it is now.
What should you buy? Bullion gold coins or gold bars.