BNP was the top gold and precious metals forecaster in the fourth quarter, according to data compiled by Bloomberg.“Gold may yet find support from higher inflation in the first half of 2017. But the Fed will pursue rates hikes in the second half of the year, keeping the dollar strong,” commodity strategists Harry Tchilinguirian and Gareth Lewis-Davies wrote. “But as we near the end of 2017, expectations of Fed rate hikes will take over stewardship of gold prices. Last year, it rose 8.1 per cent to snap three annual declines even after dropping in the final quarter. “This suggests rates hikes are more likely to come later, rather than earlier this year.

Source: Economic Times January 26, 2017 11:37 UTC