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Analysts are calling the high price of gold a response to the current unrest in Syria.
The price of gold should remain close to the $1,400 mark for most of the rest of the year, according to a new analyst note by Goldman Sachs, in response to Syria.
The investment bank raised its second half gold forecast to $1,388, a stark jump from its previous $1,300 estimate, The Economic Times reports.
“We believe the recent uptick is a result of investors positioning themselves for an increase in inflation rates and speculation regarding a potential military strike on Syria,” the bank said in a Sept. 2 note, according to the news report.
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