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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 | 3,018.2 | -21.8 | -0.72 |
| Silver | 33.29 | -0.5 | -1.48 |
| Platinum | 979.5 | -6.5 | -0.66 |
| Palladium | 962.5 | 6.5 | 0.68 |
27/03/2025
Gold has been on an unstoppable rally in 2025, surging more than 16% since the start of the year and recently breaking past $3,000 per ounce-well ahead of previous forecasts. This milestone has left
Gulfnews
25/03/2025
Gold prices rose on Monday amid concerns about the imminent tariffs that US President Donald Trump plans to impose, in addition to anticipation of interest rate cuts by US Federal Reserve this year.
QNA
24/03/2025
Gold prices slipped at the opening of markets in Dubai on the first trading day of the week due to a stronger US dollar as investors await fresh catalysts.
At 9am UAE time, the 24K variant o
Khaleej Times
22/03/2025
Gold prices fell on Friday, but were poised for a third straight weekly gain, bolstered by safe-haven demand amidst geopolitical and economic uncertainties as well as anticipation of US Federal Reser
Reuters
21/03/2025
Gold touched an all-time high on Thursday as the US Federal Reserve signaled two possible interest rate cuts this year, adding to the bullion's appeal amid ongoing geopolitical and economic tensions.
Asharq Al Awsat
Financial Information Co.
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