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UBS cuts silver price forecasts on sour gold sentiment

Posted on 25 June 2013

UBS lowered its forecasts for silver on Monday, saying prices would come under pressure as sentiment towards gold sours and that silver has no drivers of its own. The investment bank cut its 2013 silver price outlook to $24 an ounce from $29 per ounce. It also reduced its 2014 forecast to $25 an ounce from $30 earlier.
“The elements of silver, which offer investors exposure to the gold price and effectively an insurance against macroeconomic uncertainties, currency debasement and the implications of such on inflation, will work to its detriment based on the current macro outlook,” UBS strategist Edel Tully said in a note………………………………………..Full Article: Source


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