Allison Nathan, Jeffrey Currie and other analysts at Goldman Sachs in London, New York and Hong Kong, are forecasting $1,650 in 12 months. Precious metals will return 30% over the period, more than energy, industrial metals and agriculture, they said in a report Nov. 9.
'Gold Standard'
"I flagged gold, not as a potential return to the gold standard, but as an indicator of lack of confidence in the growth policies," World Bank President Robert Zoellick said in an interview Nov. 10.
One-month implied volatility on the euro against the dollar climbed to 14.49 earlier this month, the most since June.
"Gold is the preferred currency right now," said Ronald Stoeferle, an analyst at Erste Group Bank AG in Vienna who expects gold to reach $1,600 by June. "The Fed can print and produce money, but it cannot produce confidence and trust in the U.S. dollar."