The yellow metal will peak at $1,900 per ounce next year, the bank said, forecasting an annual average of $1,810.
Among the catalysts it pointed to were the continuing environment of low interest rates, low risk appetite and limited supply of the precious metal.
Goldman’s forecast of further rises in the gold price signals a second consecutive record year for the commodity, seen as a safe haven investment in times of economic turmoil.
The average morning fix price at the end of the month was $1,571 in 2011, including a record peak of $1,896 in August.
