Goldman Sachs says gold will surge another 20% and hit $2,300 in the next year, driven by rock-bottom interest rates

• Goldman Sachs has raised its 12-month gold forecast by 15% and now expects the metal to hit $2,300 per ounce.
• The bank previously projected that the safe-haven metal would touch $2,000 an ounce in the next 12 months. It is currently trading above $1,900, and on Monday, hit a record high.
• A $2,300 projection would be a 20% jump from gold's current price levels.
• Analysts at the bank also lifted the 12-month forecast for silver by 36% to $30 per ounce.
• The increased forecasts are driven by rising fears about the dollar's long term future as the world's key reserve currency, and expectations of continued rock-bottom interest rates.
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Goldman Sachs expects gold to jump almost 20% from its already record level to reach $2,300 in the next 12 months on rising concerns over the US dollar's global standing as a reserve currency. 

Analysts at the bank continue to think that gold has plenty of room to run against a backdrop of rising geopolitical tensions, elevated political and social uncertainty in the US, and a swelling COVID-19 second wave.

See the rest of the story at Business Insider

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