| Citi Research sees gold easing slightly in the fourth quarter to an average of $1,320 an ounce as the Federal Open Market Committee hikes U.S. interest rates for the first time in a year. Meanwhile, in a special section of the bank’s quarterly commodity forecast released overnight, Citi said Indian demand for gold and certain other commodities – such as crude oil and power -- is likely to be helped by rising incomes during the next half of a decade.
Financial markets do not expect the central bank to act in November, to avoid influencing the U.S. presidential election, and is split on the chances for a rate hike in December...........................................Full Article: Source
|