A piece from BNP says analysts there are bearish on gold due to a stronger USD expected as the Federal Reserve hikes rates
BNPs gold forecast
- An average price of USD1,245 for Q2 of 2017
- $1220 for 2017 as a whole on average
- $1120 for 2018 as a whole on average
- BNP hedge that demand may increase on European political uncertainty though
- Longer term trend remains down though
On the Fed:
- Expect a total of 3 Federal Reserve hikes this year
- And more over the coming year, says market is too complacent on the potential 2018 hikes also
