What are the factors to lift Gold above $1,200 an ounce?

UNITED STATES January 28 2016 11:09 AM   

NEW YORK (Scrap Register): TD  Securities said gold could reclaim $1,200 an ounce sooner than analysts expect  if concerns about the U.S. economy and investor buying continue.

There  is a growing conviction that the Federal Reserve will not hike U.S. interest  rates as rapidly as thought when policymakers upped rates in mid-December,  analysts at TDS added.

Meanwhile, analysts point out that global  exchange-traded-fund holdings of gold are up 1.46 million ounces from the lows  recorded earlier this year.

“This, along with new U.S. economic concerns,  have sent gold above the recent trading range to over $1,112/oz. Should these  dynamics continue, prices could reach $1,200/oz a lot sooner this year than we  have projected,” analysts added.