Resource News

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.

MARKETS

Markets
TSX19692.92+236.21
TSXV646.04+10.63
DOW32845.13+315.50
S&P 5004130.29+57.86
NASD12390.69+228.09
ASX6945.20+55.50

COMMODITIES

Commodities
Gold1766.15+0.14
Silver20.36+0.03
Copper3.59+0.12
Palladium2134.00+13.00
Platinum900.50+2.51
Oil98.30+1.88
Heating Oil3.53-0.08
Natural Gas8.29+0.15

DOWNLOAD FREE REPORTS

×