09.09.2015 - BofA Merrill Lynch: Gold below $1,000 in 2016
The spectre of higher interest rates is the main factor behind a lowering of Bank of America Merrill Lynch's gold forecast. BofA now believes gold will average $1,122 per ounce in 2015, 6.8% below its previous forecast reports SMM. A hawkish Fed and tame inflation will see gold fall below $1,000 an ounce in 2016 says the bank adding that "the combination of higher nominal opportunity costs and lack of inflation has hardly ever been bullish in the past 40 years." However, as inflation in the US picks up gold should enjoy an uptrend later in 2016, averaging $1,250 during the fourth quarter of next year...............................................Full Article: Source
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