Gold seen rebounding next year amid low real interest rates

Singapore

WE'VE not seen the last of the rally in gold, according to Toronto-Dominion Bank.

Prices are likely to go as high as US$1,350 an ounce some time next year, after dipping below US$1,200 as the Federal Reserve raises interest rates, likely in December, according to Bart Melek, the bank's head of commodity research. Futures traded at US$1,256.40 on the Comex in New York on Monday.