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    market news

    UBS Lowers One-month Silver Price Forecast by 10 Percent

    Charlotte McLeod
    Aug. 10, 2015 09:05AM PST
    Silver Investing

    Platts reported that UBS AG (NYSE:UBS) has reduced its one-month silver forecast by 10 percent, to $14 per ounce.

    Platts reported that UBS AG (NYSE:UBS) has reduced its one-month silver forecast by 10 percent, to $14 per ounce.
    Meanwhile, the bank has reduced its one-month gold price outlook by 13 percent, to $1,050 per ounce. It’s set its one-month platinum price outlook at $950 per ounce and its one-month palladium outlook at $600 per ounce. Those are reductions of 12 and 10 percent, respectively.
    As quoted in the market news:

    On a three-month horizon gold was cut by 4% to $1,125/oz, silver by 2% to $15,50/oz, platinum down 7% at $1,050/oz with palladium at $680/oz, down 7%.

    Analyst Joni Teves told the news outlet:

    For [precious metals excluding gold], internal drivers remain limited right now and we expect this trend to continue — as such, much of the direction over the relevant forecast period is likely to be driven by gold along with the broader commodity complex.

    Click here to read the full Platts report.

    palladium outlooksilver forecastmarket newsnyse:ubs
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