Gold futures may rebound to $1,425 an ounce in the fourth quarter after forming a “double bottom,” according to technical analysis by Logic Advisors.
Yesterday, gold had the biggest gain in almost two weeks on speculation that the Federal Reserve will delay reducing monetary stimulus amid the first U.S. government shutdown in 17 years. The price has dropped 21 percent this year, tumbling into a bear market in April, as U.S. equities rose to a record and inflation remained moderate, eroding the appeal of the metal as a store of value.
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