| TD Securities sees $1,400 gold and says $1,500 may even be possible if the Federal Reserve further cools market expectations for interest rates. The metal has benefited from the "disarray" caused by the U.K. after its vote to leave the European Union, as well as global disinflation and low interest rates.
"Given that there are likely to be significant flows into gold and other precious metals seeking protection from the current turmoil, the record amount of net-long exposure should not impede the yellow metal from trending toward $1,400/oz," TDS says. "If we see the Fed downgrade its rate forecast in the not-too-distant future, a move toward $1,500/oz is also very possible, particularly if the negative yield narrative grows even louder."..............................................Full Article: Source
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