Home Wealth  Money Goldman Sachs Updates Commodities Outlook

Goldman Sachs Updates Commodities Outlook

Posted: Nov. 15th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Goldman Sachs updated its forecasts on a variety of commodities prices today, as uncertainty continues to swirl around Europe.

Despite new leadership for the troubled economies of both Italy and Greece, the debt situation in the Eurozone far from resolved.

Among other commodities forecasts, Goldman Sachs (nyse: GS - news - people ) said it now expects gold to rise to $1,930 per ounce within 12 months, compared to a prior forecast of $1,860 per ounce.

Silver is expected to cost $32.20 per ounce a year from now, an increase from Goldman's prior forecast of $31.10.

Gold today is trading down to around $1,778 an ounce, leading the iShares Gold Trust to trade down about .6%, while the SPDR Gold Shares trades down about .6% as well.

The iShares Silver Trust is trading down over 1.3% Monday, while the ETFS Physical Silver Shares trades down over 1.4%.

The Gold Miners ETF () is trading down about 1%.

Market News Video produces and distributes online videos about stocks and investing.

Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you can’t mix business with pleasure?
Read More
More Articles from Forbes.com

Quick Links
Real Estate
Luxury Travel
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
Current News & Features
We Don't Recommend Trying to Steal the Miniature Chest Safe by Döttling
Christie's Expects to Get Over $100M for Defining Modigliani Nude
The $2,600 Twisted Wine Carafe That Even Hannibal Lecter Would Love
VIDEO: Flexjet Promises the Same Dedicated Crew For Every Red Label Aircraft
Rolls-Royce Gets Sporty With Customized Rugby-Inspired Wraith
Can Scott Eastwood's First Western Movie Diablo Be As Good As It Wants to Be?
$50M Housing Development Confirmed for Hong Kong's Esteemed Mount Nicholson
Adrien Brody's Septembers of Shiraz Makes for a Lackluster SDFF Opening
Introduce Your Music-Loving Ears to Your Inner Fashionista With the Stylish PRYMA Headphones
Celebrate Vegetarian Day By Exploring America's Top Veggie Restaurants!
See the complete list
Featured Photo Gallery
See the complete list