Gold has recovered smartly, after falling to a recent low of around USD1240/oz in early December 2017, following the interest rate rise by the US Federal Reserve, explains the analysis team at NAB. 

Key Quotes

“US dollar weakness and doubts around alternatives (such as crytocurrencies) are generally supportive of gold, and we expect it to remain in the USD1300/oz range. NAB forecasts the year-end price at around USD1360/oz, with further upside momentum into 2019 and 2020.”