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Goldman predicts gold prices to climb to highest since 2013


NEW YORK: Goldman Sachs Group Inc. is leading a pack of bullish voices cheering for gold.

The bank’s analysts led by Jeffrey Currie raised their price forecast for gold, predicting that over 12 months the metal will climb to $1,425 an ounce -- a level not seen in more than five years. Bullion has benefited as rising geopolitical tensions fuel central bank purchases, while fears of a recession helped boost demand from investors seeking “defensive assets,” they said.

   

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