Forecast: Gold price will drop to 1,165 USD/ounce

Baku. 6 July. REPORT.AZ/ Continuation of increase in discount rate by US Federal Reserve System (Fed) and starting to reduce balancewill have negative impact on gold price.

Report informs citing the Bloomberg, analysts of the French BNP Paribas bank stated.

Analysts reported that Fed expected to increase its discount rate in December, and the gold price will fall to $ 1,165 / ounce. This is 5% lower than the current price.

Notably, forecasts by BNP Paribas on gold assets are one of the closest to the target in the last quarter of 2016 and was the best in the world in the second quarter of this year.