Why This Is Stealing Gold's Safe-Haven Thunder - Societe Generale

Of all the headwinds hurting the gold market right now, it is really this newfound optimism over the global economy that is hurting the metal's prices most, this according to Societe Generale's head of metals research Robin Bhar. Speaking with Kitco News, he shared the French bank's outlook for the yellow metal for 2017, which expects prices to average around $1,300 an ounce. 'We're looking to revise that lower given gold's very disappointing performance since the U.S. elections but we still retain an overall positive bias, we think gold can find a bottom. 'Could the U.S. dollar just be stealing gold's safe-haven thunder? 'I think that must be the answer,' he said. February Comex gold futures last traded at $1,158.5, up 0.3% on the day. Meanwhile, the U.S. dollar index last traded at 102.28.