Gold surges to new high as Wall Street predicts precious metal has room to run

Gold (GC=F) hit a new record on Tuesday to surpass $3,800 in intraday trading as Wall Street analysts predicted that the precious metal still has room to run. Gold futures rose 0.8% to trade near $3,805 per troy ounce, while bullion for immediate delivery traded near $3,780 per ounce. Wall Street sees further upside for the precious metal, with Goldman Sachs reiterating a forecast of $4,000 by the middle of next year, and UBS predicting $3,900 during the same time frame. "We think gold prices have furth ...