The resilience in the price of gold this year has come as a surprise given the prospect of further monetary tightening in the US. Safe-haven demand appears to have been the main driver of prices. But, there are already signs that this support is fading. What’s more, we think that Fed tightening will prove too strong a headwind for gold prices this year. In this Metals Watch, we take an in-depth look at the outlook for US monetary policy and its likely impact on gold prices in 2017 and beyond.
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