Brokerage MF Global expects gold to remain rangebound between $1,490 to $1,550 in July, supported by expectations that global monetary policy will remain supportive.
"The rebound in global manufacturing will simply return the economy to a sub-par rate of recovery, which should create an environment of slow but stable growth, volatility in inflation, and accommodative monetary policy," the firm said in a research note.
"Such ingredients should maintain a favorable environment for the gold market
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