Morgan Stanley Cuts 2013 Silver Price Forecast to $23.39 per Ounce

The Economic Times reported that Morgan Stanley has lowered its gold and silver price forecasts due to Federal Reserve Chairman Ben Bernanke’s assertion that the central bank may restrict quantitative easing or end it altogether.

As quoted in the market news:

‘With investor demand for safe-haven assets waning against the backdrop of a strengthening US dollar and rising US bond yields, market conditions for gold and silver have become markedly less favourable,’ the bank said in a note.

Morgan Stanley lowered its 2013 silver price forecast by 14 per cent to $23.39 an ounce and its 2014 estimate by 29 per cent to $21.01 an ounce.

Click here to read the full report from The Economic Times.