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The Brazilians Dominating Gold Forecasting See More Pain

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Gold Hits Bearish Deflation, Dollar Cocktail: Steel

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Forget Mario Draghi and the Chinese aunties. The only thing that matters for gold is the Federal Reserve and that spells trouble for prices, according to the most-accurate bullion forecaster over the past two years.

With the Fed indicating it will raise U.S. interest rates for the first time since 2006 as the world’s biggest economy recovers, bullion will post its third straight annual drop, said Artur Passos, who produces the metals outlook at Itau Unibanco Holding SA, Latin America’s biggest bank by market value. Passos, part of a research group led by former central banker Ilan Goldfajn, was the most-accurate among 20 forecasters, data compiled by Bloomberg Rankings show.