SHANGHAI, May 22 (SMM) – The gold market is in the spot light after its recent price hitting $1,200. Now, investors are divided sharply on their outlook for precious metals.
Bank of America Merrill Lynch
Gold price will be pushed higher to $1,500 in response to the US’s potential delay in its interest rate hike.
Standard Chartered Bank
Gold price will rise to $1,300 in late 2015.
Royal Bank of Canada
Gold price will rise during the rest of the year, with 2015’s average price at $1,250.
The rise in gold price will prove unsustainable.
Soft physical demand in China and India will weigh down gold price.
Some other major banks take a dovish stance over gold price.
The 2015’s gold average price is expected at $1,231.
Gold price has a little chance to climb above $1,200, and US’s non-farm payrolls data will be a key factor.
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