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Top Gold Forecaster Who Changed Tack Near Bottom Sees Gains

  • ABN Amro’s Boele sees gold climbing to $1,425 this quarter
  • Prices will then fall through March before resuming advance
Gold bars sit stacked in this arranged photograph at Solar Capital Gold Zrt. in Budapest, Hungary, on Thursday, March 10, 2016. Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn't cut interest rates further, boosting the euro and making dollar-denominated bullion less expensive for investors.
Photographer: Akos Stiller/Bloomberg
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Gold’s joint top forecaster, who in February abandoned her bearish outlook to correctly call bullion’s surge, sees more gains in store before prices taper off by year-end.

The metal will climb to $1,425 an ounce by the end of September, 4.4 percent higher than now, before dipping in the following six months amid prospects for higher U.S. interest rates, said Georgette Boele, a currency and commodity analyst at ABN Amro Bank NV. The 43-year old was rated by Bloomberg as the most accurate forecaster, sharing the top spot with Jason Schenker at Prestige Economics LLC.