Friday, September 17, 2010

Citigroup (NYSE:C), Goldman (NYSE:GS) See $1,300 Gold Sooner

Citigroup recently said they see the price of gold possibly reaching $1,300 an ounce as early as next week, depending on whether or not the Federal Reserve talks about quantitative easing.

Goldman Sachs (NYSE:GS) now agrees that their estimates on how long it'll take to reach $1,300 gold could come much quicker if quantitative easing is resumed.

In a note to clients, Goldman analysts said quantitative easing "would likely accelerate the move to our 6-month price target and provide upside risk to our forecast."

Gold prices broke another record in intraday trading Friday, reaching $1,284.40 an ounce for December delivery.

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