The gold price—currently hovering around the $1,300 an ounce mark—will likely fall to $1,100 an ounce next year, according to a forecast from investment bank Goldman Sachs, as quoted by Reuters.
The investment bank’s exact 2014 price expectation is $1,144 an ounce.
For the time being, “gold will likely remain volatile,” analysts predicted, staying in the $1,250 to $1,350 an ounce range until the Federal Reserve’s “tapering” policy becomes clearer.
At press time, gold was trading at $1,346 an ounce. It began the year at $1,657.