UBS Lifts 2012 Gold-Price Outlook by 50% to $2,075 on ‘Explosive Cocktail’

Bloomberg reported that economic concerns prompted UBS AG (NYSE:UBS) to raise its price outlook on gold by 50%.

The market news is quoted as saying:

The metal will average $2,075 an ounce next year, up from an earlier estimate of $1,380, the bank said today in a report. Prices will average $1,725 in 2013, compared with a previous forecast of $1,200, UBS analysts led by London-based Edel Tully said.

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