Goldman Sachs Drops Gold Forecast for 2013 from $1,810/ounce to $1,600/an ounce

Reuters reported that Goldman Sachs slashed its forecast for gold from $1,810 an ounce to $1,600 an ounce in 2013.

As quoted in the market report:

If that projection proves accurate, it will mark the first year gold has recorded a lower average price year-on-year since 2001, when its record-breaking 12-year bull run began.

To view the full Reuters report, click here.