A employee works on 1 kg. gold bars in Ahlatci Metal Refinery in the central Anatolian city of Corum, Turkey, May 11, 2017. REUTERS/Umit Bektas
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Gold is taking aim at $1,300 an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the U.K. election and potential drama of former FBI Director James Comey's testimony, while also tracking tensions in the Middle East. Gold is 12 percent higher in 2017, and a Bloomberg survey this week signals more gains. Gold may end the year at $1,350, according to the median estimate of 15 people surveyed at a conference organized by the Singapore Bullion Market Association this week.Managing Director Peter Cook said Wednesday that prices will gain on global volatility to reach $1,400 by the end of 2017 .While gold has rallied, investors remain mindful that the Federal Reserve is expected to raise rates again next week, adding to increases in December and March.
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