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Commodities Briefing - Categorized | Bullion/Gold, Metals and Minerals, Price Watch more

UBS raises gold, silver, copper 2012, 2013 price forecasts

Posted on 12 October 2012

Zurich based investment bank UBS AG lifts its 2012 average estimate for gold prices by $20 an ounce to $1,700 and its 2013 estimate to $1,900 from $1,725. “The open-ended nature of QE … promises longevity for a higher gold trade and the quantitative easing and strength in gold also supports silver,” the Swiss bank noted.
“We also materially increase our silver price 2012/13 price forecasts (including the long-term price). Copper price estimates are raised 2 per cent/6 per cent in 2012/13. Iron ore is trimmed 5 per cent/2 per cent in 2012/13, and met-coal 5 per cent in 2012. We believe thermal coal has now largely rebalanced after widespread production cuts,” they added………………………………………..Full Article: Source

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