World Economy

Gold Seen Near $1,400

Gold Seen Near $1,400Gold Seen Near $1,400

Gold has soared in the opening months of 2016 as investors second-guess a wary Federal Reserve, Bloomberg reported. A thicket of risks from the UK’s Brexit vote next month to the US presidential election may lift prices even further by yearend, according to Denmark’s Saxo Bank A/S. “It’s not just one risk right now,” said Head of Commodity Strategy Ole Hansen, who predicts bullion may jump to as much as $1,400 an ounce this year. Meanwhile, gold dropped on Wednesday. Spot gold dropped 0.4% to $1,274.58 per ounce, after gaining 0.5% in the previous session. US gold futures were down 0.4% to $1,276.30.