| Of all the precious metals, gold has “the most challenged fundamentals,” said analysts at Bank of America Merrill Lynch on Tuesday, as rising interest rates, stronger equities and the rising U.S. dollar all weigh on the yellow metal.
Adding to gold’s weakness is the reduced Chinese purchases year-over-year, they said. The combination all of these forces suggests that “prices may touch $1,100/oz at some stage next year,” the analysts said in a research note. While all of these factors contribute to weaker prices, gold has some supportive supply and demand aspects which could give the metal some support around $1,200, the bank said...............................................Full Article: Source
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