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UBS lowers 2013 gold price forecast, keeps 2014 forecast unchanged

Posted on 10 April 2013

UBS on Tuesday lowered its gold price forecasts for 2013, saying that the precious metal has already faced many challenges this year. “Market concerns on the longevity of the Federal Reserve’s quantitative easing, a rotation into equities, benign inflation and the focus on better economic growth are valid threats to gold’s upside potential,” UBS analysts said in a note.
“A stronger dollar also poses a challenge.” The bank reduced its 2013 price forecast for gold to $1,740 per ounce from $1,900, while maintaining its forecast of $1,700 per ounce for 2014………………………………………..Full Article: Source


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