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Gold Seen Rebounding Next Year Amid Low Real Interest Rates

  • Metal could climb as high as $1,350 in 2017, says TD’s Melek
  • Bullion will probably test the highs seen earlier this year
A pile of 40 Troy oz High Fine Gold Bars is shown in a subcompartment of the vault inside of The United States Mint Tuesday June 20,2006 in West Point, New York. Daniel Barry/Blooomberg News
Photographer: Daniel Barry/Blooomberg
Updated on

We’ve not seen the last of the rally in gold, according to Toronto-Dominion Bank.

Prices are likely to go as high as $1,350 an ounce sometime next year, after dipping below $1,200 as the Federal Reserve raises interest rates, likely in December, according to Bart Melek, the bank’s head of commodity research. Futures traded at $1,254 on the Comex in New York on Monday.