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31/03/2012 08:04 AST
Zurich based UBS bank has cut their 2012 gold forecast by 18% owing to improved indications of US recovery. 2012 gold prices is now expected to average $1680/oz as against the previous forecast of $2050/oz.
"The view that the U.S. economic recovery is looking more sustainable is becoming increasingly accepted. Gold is at risk, for it needs persistent inflows of investor money to keep it on its upward trajectory", BBS states in a report while adding that the $2050/oz estimate is now considered an aggressive target.
The bank is positive on palladium and platinum prices over the next 3 month period given the recovery of the US while Iron ore is also expected to benefit during the same period due to a tightening of supplies.
UBS is not alone in reducing their gold price forecasts. Earlier, Goldman Sachs had cut their their price forecast for gold while stating that "Our economists forecast subdued growth and further easing by the Fed in 2012". Three month forecast is now at $1785 while the 12month forecast projects gold prices to be around $1940/oz.
Commodityonline
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Gold | 3,317.4 | -60.3 | -1.79 |
| Silver | 35.7 | -0.45 | -1.25 |
| Platinum | 1,306.5 | 18.5 | 1.44 |
| Palladium | 1,059.5 | -20 | -1.85 |
29/06/2025
Gold fell more than 1 percent to its lowest level in nearly a month on Friday due to easing geopolitical and trade tensions and as investors awaited US inflation data for clues on the future trajecto
Reuters
26/06/2025
Gold prices stabilized in on Wednesday's trading, due to a decline in investor interest in the yellow metal as a safe-haven.
Spot Gold was unchanged at $3,326.39 per ounce, after hitting an
QNA
25/06/2025
Gold prices plunged sharply on Tuesday as global market fluctuations and investor uncertainty triggered a downturn in the precious metals sector.
The price of gold per ounce dropped to $3,31
Saudi Gazette
24/06/2025
China aims to increase its gold resources by 5 to 10% and its gold and silver output by more than 5% by 2027, the industry ministry said on Monday in an implementation plan for 2025 to 2027.
Asharq Al Awsat
13/06/2025
The price of gold in the Qatari market rose by 0.93 percent during the current week, reaching USD 3,339.67 per ounce, according to data issued by Qatar National Bank (QNB).
The data showed t
QNA
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