Gold prices will recover next year as demand in China and India improves, according to Australia & New Zealand Banking Group Ltd., which forecast an advance for bullion even as the Federal Reserve raises interest rates.
The precious metal will climb to $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 $1,420, according to the report.
