Gold's top forecaster says prices may hit $1 350 by year-end

Gold will end the year higher, spurred by faster inflation and political tensions in Russia, Syria and North Korea, according to Intesa Sanpaolo, the best forecaster for the metal last quarter. Prices could take a V-shaped path this year, with a swoon coming mid-year as the Federal Reserve raises US interest rates, said Daniela Corsini, an analyst at the bank. Gold will likely bounce back by year-end, reaching a high of $1 350/oz an ounce in the fourth quarter, she predicted.