RBC: Gold forecast at $1,500 an ounce in 2017

Royal Bank of Canada (RBC) out with their outlook on gold and Fed interest rates prospects for 2017 and beyond.

Key Points:

Gold forecast at $1,500 an ounce in 2017

Same for 2018

For 2020 (the year, not the hindsight) they are at $1,300

Elevated geopolitical uncertainty, higher systemic risk and heavy investor demand, expected to underpin prices

Not expecting a Fed rate hike until mid-2017

Meanwhile, ABN Amro expects gold to end 2017 at $1,450.