Goldman Sachs: Precious Metals Will Shine in 2011

Precious metals will likely generate the best returns among commodities in the next year according to Goldman Sachs analysts.

Precious metals were expected to advance 28 percent over 12 months London-based Jeffrey Currie, Allison Nathan and other Goldman Sachs analysts said in a report issued yesterday.

Gold has risen 27 percent during 2010, heading for a 10th consecutive annual advance. Investors are seeking hard assets as governments and central banks led by the US Federal Reserve pump more than $2 trillion into the world financial system.

Gold will reach $1,690 an ounce within 12 months Goldman Sachs estimates.

 

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