Goldman forecast gold at $1,050 in six months and $1,000 in a year.
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In times of trouble, gold has long been a popular haven for investors expecting that more volatility will increase the value of the commodity.That's a disappointment for investors who remember how gold tripled in value after the 2008 financial crisis or surged more than 50 percent in the months after the Iranian hostage crisis in 1979 .SPDR Gold Shares, the biggest such ETF, began trading in November 2004 .Even with all that money invested in the precious metal, on April 28, the 60-day historical volatility for spot gold fell to the lowest since 2005 .Gold averaged 12 percent returns in the two months after eight major geopolitical events analyzed by RBC over a 23-year period through 1993 .The biggest gain occurred after the Iranian hostage crisis in 1979, which sent gold climbing 58 percent in two months.ETFs are having a bigger impact on gold than they are on other markets.
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