Quantcast
HomeNews Newsdetails
Submit your e-mail to get CommodityOnline Advisory and news daily!

Last Updated : 11 October 2012 at 20:20 IST

UBS raises Gold, Silver, Copper 2012, 2013 price forecasts

Source :Commodity Online

  • 0

The open-ended nature of QE … promises longevity for a higher gold trade and the quantitative easing and strength in gold also supports silver.

In fact, nature of India-China trade relationship should be in such a manner that it shoul...
As a direct result, Barclays heard during meetings last week that banks in coastal areas h..
I would also like to give you some more names of companies operating in Europe and making ..
Trading-tips
  • Commodity
  • |
  • Advise
  • |
  • Entry
  • |
  • Agency
  • Commodity
  • |
  • Contract
  • |
  • Trend
  • |
  • Pivot Point
Fundamentals
  • Norilsk Nickel announces closing of Lake Johnston operation in Australia
  • As per April 25 reports, Norilsk Nickel has announced that it is closing its Lake Johnston operat..

  • More >>
  • Astrology
  • Sun can push Crude Oil down any time: Astromoneyguru
  • By Col. Ajay
    As per financial astrology, transit OD Sun in Saturn house is ..

  • More >>
  • NEW YORK (Commodity Online): Zurich based investment bank UBS AG (SIX: UBSN, NYSE: UBS) lifts its 2012 average estimate for gold prices by $20 an ounce to $1,700 and its 2013 estimate to $1,900 from $1,725.

    “The open-ended nature of QE … promises longevity for a higher gold trade and the quantitative easing and strength in gold also supports silver,” the Swiss bank noted.

    "We also materially increase our silver price 2012/13 price forecasts (including the long-term price). Copper price estimates are raised 2 per cent/6 per cent in 2012/13. Iron ore is trimmed 5 per cent/2 per cent in 2012/13, and met-coal 5 per cent in 2012. We believe thermal coal has now largely rebalanced after widespread production cuts," they added.

    For platinum, the bank boosts its 2012 average price estimate by $10 an ounce to $1,575, leaving its 2013 estimate unchanged at $1,800.

    “The biggest price lift has already occurred, by a US recovery and underperforming, high-cost South Africa mines are two key supports,” UBS continued.

    They lower their palladium 2012 price forecast by $15 to $655, but say eventually palladium will be supported by the U.S. economic recovery and dwindling Russian stocks.

    Add Your Comments

    Post to twitter
    Post to facebook
    Comments