LONDON -- Goldman Sachs has significantly hiked its price forecasts for nickel and zinc for this year and next year to reflect tight supplies, the U.S.-based investment bank said in a research report.

The bank has revised up its nickel price forecast to $23,874 a tonne for this year compared with a previous forecast of $18,940 a tonne and for 2007 the forecast has jumped to $25,000 from $18,750. Goldman sees zinc averaging at $3,274 a tonne this year from $2,954 previously and for next year the forecast is $4,298 compared to $2,875.

The forecast for platinum for next year has been revised up to $1,225 an ounce from $1,100 previously and for 2008 the new number is $1,085 from $900 previously.

Copyright Reuters 2006.

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