Gold is currently at $1,142.60 (+0.11%) holding on to a three-month high after rising overnight as global economic uncertainties are likely to persuade the Federal Reserve to postpone a rate hike. Prospects of slower rates growth are positive for the non-interest-paying precious metal.

Analysts from BMI Research suggest gold will fluctuate in a $1,000-$1,200 range this year amid weaker outlook for Fed rates. This forecast is more bullish than earlier expectations of a decline below $1,000 per ounce.