Zurich Based UBS trims its average 2014 Silver price forecast from $22.30 to $21.80/Oz
UBS trimmed its this year average silver price forecast from $22.30 an ounce to $21.80 an ounce, saying the metal struggled to fully benefit from gold's safe-haven first-quarter gains.
ZURICH (Bullion Street): Zurich based UBS trimmed its this year average silver price forecast from $22.30 an ounce to $21.80 an ounce, saying the metal struggled to fully benefit from gold’s safe-haven first-quarter gains.
According to UBS, it should do better when the economy recovers, but silver needs convincing economic growth before it can start outperforming gold.
The Swiss bank keeping its this year average yellow metal price forecast at $1,300 an ounce, saying the yellow metal should trade range-bound. It kept its 2015 forecast at $1,200 an ounce.
Bank's Platinum group metal's (PGMs) forecasts are also unchanged. UBS remains bullish on PGMs, with the 2014 platinum price forecast at $1,500 an ounce and 2015 at $1,750 an ounce . The 2014 palladium price forecast of $825 an ounce is unchanged, but UBS raised its 2015 forecast to $875 an ounce from $850 an ounce.
According to UBS, it should do better when the economy recovers, but silver needs convincing economic growth before it can start outperforming gold.
The Swiss bank keeping its this year average yellow metal price forecast at $1,300 an ounce, saying the yellow metal should trade range-bound. It kept its 2015 forecast at $1,200 an ounce.
Bank's Platinum group metal's (PGMs) forecasts are also unchanged. UBS remains bullish on PGMs, with the 2014 platinum price forecast at $1,500 an ounce and 2015 at $1,750 an ounce . The 2014 palladium price forecast of $825 an ounce is unchanged, but UBS raised its 2015 forecast to $875 an ounce from $850 an ounce.
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