Goldman's Golden Gold Forecast Should Benefit These ETFs

Gold and its seemingly never-ending run to new heights got another boost on Monday with Goldman Sachs

saying the yellow metal could be trading as high as $1,650 an ounce in a year. Goldman added that gold could see $1,400 an ounce in three months and $1,525 an ounce in six months and recommended buying Comex December 2011 gold futures and January 2011 Nymex platinum. For those that opt not to play the futures market, the platinum play is the ETFS Physical Platinum Shares

. Backed by physical platinum, PPLT and its cousin, the ETFS Physical Palladium Shares

have become trendy picks to play a rebound in global auto demand. As for gold, if you're looking beyond the usual suspects like the SPDR Gold Shares

and the iShares COMEX Gold Trust

, the ProShares Ultra Gold ETF

is a fine way to leverage your returns on gold's ascent. For whatever reason, the PowerShares DB Gold ETF

rarely makes it into the gold ETF conversation, but don't ignore this fund. DGL tracks a rules-based index composed of futures contracts on gold and is intended to reflect the performance of gold. It goes without saying gold miners benefit from high gold prices, so be sure to be involved with either the Market Vectors Gold Miners ETF

or the Market Vectors Junior Gold Miners ETF

. Silver is the derivative play of choice, though it wasn't mentioned in the Goldman report. The Market Vectors Silver Miners ETF

is the way to go on that front.