Mumbai — Gold is set to advance as much as 15% before the end of 2017 as the Federal Reserve (Fed) goes slow on increasing interest rates and the dollar remains subdued, buoying bullion demand, according to Templeton Emerging Markets Group. "The Fed is going to increase the rates by a little bit but not excessively and there is no guarantee that a rise in interest rates will put people off," executive chairman Mark Mobius said. Bullion has rallied 19% in 2016 as concern over the health of the global economy, loose monetary policies and the UK’s vote to leave the EU fanned demand. After raising rates in December 2015 for the first time in almost a decade, Fed policy makers have stood pat on borrowing costs in the six meetings since. While the dollar gained to the highest since March on Friday on speculation that rates may soon climb, it remains lower in 2016. "The US dollar is not that strong and may even decline," said Mobius, who also highlighted prospects for increased central ban...
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