| Changed sentiment stemming from increased uncertainty from economic and political outlooks has prompted GFMS to revise its 2016 average gold price forecast. These include the Brexit, reduced expectations of a rate rise from the Fed, a wobbly Italian banking sector and the US presidential race, it said in its latest gold survey report on Tuesday.
“Gold is likely to retain its status as a risk hedge for the remainder of the year, particularly as uncertainty persists and risks to the global economy remain elevated,” GFMS added. It now sees the metal averaging $1,279 per ounce this year, up from $1,184 in its forecast in April...............................................Full Article: Source
|