More losses for gold this year: Barclays

Singapore

GOLD will extend losses this year as US interest rates increase, providing an opportunity for investors to buy the metal to benefit from a rebound spurred by Asian demand, according to Barclays plc.

"We expect gold prices to test new lows in 2015," analysts Suki Cooper and Kevin Norrish wrote in a report dated Sunday, predicting that prices will drop to less than US$1,130 an ounce. "The lows of this year and next are likely to offer attractive entry-level prices for the longer-term investor." Bullion last year posted the first back-to-back annual drop since 2000 as US e…