RBC are bullish on gold, citing elevated geopolitical uncertainty, higher systemic risk

  • Forecast $1,500 an ounce in 2017
  • Same for 2018
  • For 2020 (the year, not the hindsight) they are at $1,300
  • RBC cite heavy investor demand, expected to continue
  • Not expecting a Fed rate hike until mid 2017

More on gold, from ABN Amro:

  • Expects gold to end 2017 at $1,450