The gold price will end the year between $1,251 and $1,350 per ounce, according to delegates at the Dubai Precious Metals Conference. Around 33 percent of the audience were mildly bullish on gold, believing that the metal will overcome bearish factors – including the likelihood of higher US interest rates later this year or early in 2016 – to end the year higher than the current price either side of $1,200 per ounce. The current consensus is for the Federal Reserve to lift rates from near-zero levels in the second half of the year, though positive jobs data and an improvement in the domestic inflation rate are likely to signal an earlier rise. Most delegates – around 36 percent – were also mildly bullish on silver, believing that the metal will rise from its current rate of around $16.25 per ounce to end the year between $16 and $18.

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