Pacific Gold Corp fka PCFG

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Goldman Sachs recently raised its 12-month forecast for gold to $1650/ounce, citing expectations for further quantitative easing in the U.S. and prospects for long-term interest rates to continue falling (source:Kitco)(source:Allen Sykora)(source:10/12/2010).

Goldman said the decline in U.S. real interest rates is likely to persist, and rates could push even lower in the near term should the Federal Reserve undertake quantitative easing measures. Thus, Goldman said it is raising its gold price forecasts to $1,400, $1,525 and $1,650 on a 3-, 6- and 12-month horizon. Goldman said its updated forecasts point to an average of $1,575 an ounce in 2011, which is $175 higher than it previously expected.