| Zurich based UBS bank has cut their 2012 gold forecast by 18% owing to improved indications of US recovery. 2012 gold prices is now expected to average $1680/oz as against the previous forecast of $2050/oz.
“The view that the U.S. economic recovery is looking more sustainable is becoming increasingly accepted. Gold is at risk, for it needs persistent inflows of investor money to keep it on its upward trajectory”, BBS states in a report while adding that the $2050/oz estimate is now considered an aggressive target...............................................Full Article: Source |