16.12.2015 - Gold to breach $1 000 as Fed lifts rates in ‘16 – SocGen
Gold is going to be a casualty of the Federal Reserve, according to Societe Generale. Bullion will probably drop to $955 an ounce by the end of 2016 as the US central bank raises borrowing costs this week and follows that with three further hikes next year, head of global asset allocation Alain Bokobza said in an interview. The target suggests prices may sink about 10% to the lowest since September 2009. Gold is heading for a third annual loss as US policymakers prepare to raise rates for the first time in almost a decade, boosting the dollar and cutting the appeal of bullion. Traders are pricing in a 76% chance the Federal Open Market Committee will raise borrowing costs...............................................Full Article: Source
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