Gold prices continue to trade near their lows for the year as the Federal Reserve’s new hawkish bias takes its toll on the market, with another bank lowering its year-end price forecast. In its third-quarter commodity outlook report, BMO Capital Markets said it sees gold prices averaging around $4,625 an ounce in the second half of the year, down 5% from its previous forecast. “Although we still see scope for spot prices to recover should lower oil prices be sustained, supporting a rebound in emerging market demand,” the analysts added. While gold could continue to struggle through the rest of the year, BMO is not ... (full story)