| Precious metal has advanced amid a plunge in commodity prices to 16-year lows, with RBC saying seasonal buying may offer a near-term boost. We have made significant changes to both our short and long term gold and silver price assumptions pulling back our average H2/15 gold price from US$1,288/oz to US$1,125/oz and have reduced our 2016 to 2017 gold price by 7% to 8%.
We have also pulled back our long term gold price by 7% from US$1,400/oz to US$1,300/oz from 2018 onward and we expect a combination of persistent US$ strength and weaker investment to limit the upside prices well below prior high trading ranges...............................................Full Article: Source
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