| The gold price will average $1,135 per ounce in the third quarter of this year, GFMS said in its latest Gold Survey report, and $1,175 in the fourth quarter. This compares to a second quarter average of $1,192 per ounce and current spot gold price of $1,095.
The third quarter is widely expected to see the first increase to US interest rates since 2008. Higher interest rates in theory would push many gold investors into more yield-bearing assets such as bonds. GFMS on the other hand believes that much of the action has already been priced into gold, and that the first increase will in actual fact push the metal’s price higher...............................................Full Article: Source
|