The investment bank Citi Research raised its gold price forecast for the third quarter to 1,340 dollars / ounce and the fourth quarter - up to 1,320 dollars / ounce, against 1,325 dollars and 1,280 dollars earlier, the bank reported. "Despite the fact that we expect the US Federal Reserve raising rates in December, we see strong support for prices at 1,300 dollars / ounce. Also, the metal is supported by the increased level of uncertainty regarding the US policy and the election, and inflows into ETFs", bank experts have noted. At the same time, in 2017 the bank expects the price of 1,280 dollars / ounce, as it forecasts decline in prices after the resumption of the cycle of rising of interest rates by the US Federal Reserve.
Source: Uncommercial joint ownership "Trans-regional Association of precious metals producers"