Gold Set to Soar Above $1,300, Bank of America Says

The warning over the budget echoes billionaire hedge fund manager Ray Dalio, who predicted this month that the U.S. economy is about two years from a downturn, which will see the dollar plunge as the government prints money to fund a swelling deficit. Goldman Sachs Group Inc. has also joined the chorus of bulls, seeing gold at $1,325 in 12 months. Bullion has been building a base around $1,200, after five months of losses, the worst run since 2013.


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