By: Anna Golubova
(Kitco News) – Even though Capital Economics revised its year-end gold forecast upwards, it still thinks the current rally is not sustainable and the metal will likely retreat back to $1,200 an ounce.
“Elevated geopolitical risks and expectations that the Fed [Federal Reserve] will only raise interest rates slightly this year and next have buoyed the price of gold. While we have revised up our end-2017 forecast to reflect heightened global risks, we are wary of being overly bullish on prices,” Simona Gambarini, commodities economist at Capital Economics, said in a note on Thursday.
By: Anna Golubova
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