Fed rate rise won't stop gold's recovery next year: ANZ

Singapore

GOLD prices will recover next year as demand in China and India improves, according to Australia & New Zealand Banking Group, which forecast an advance for bullion even as the Federal Reserve raises interest rates.

The precious metal will climb to US$1,280 an ounce by the end of 2015, rising each quarter, strategists Victor Thianpiriya and Mark Pervan wrote in an e-mailed report dated Dec 17. The forecast for end-2016 is US$1,420, according to the report.