With precious metals climbing substantially in recent weeks, the latest firm to raise its price estimates for gold and silver was UBS.
In a note published this morning, analysts at the firm wrote that “Given Friday’s poor payrolls report, UBS feels that there is a strong likelihood of the Fed announcing quantitative easing at its FOMC meeting later this week. This sets the stage for the continuation of the precious metals rally.”
Specifically, UBS increased its gold and silver price targets as follows:
One-month gold – to $1,850 from $1,700 per ounce
Three-month gold – to $1,850 from $1,750
One-month silver – to $37 from $32 per ounce
Three-month gold – to $37 from $35
The firm also noted that it expects silver to outperform gold over the next three months, and therefore predicted that the gold/silver ratio “will trend lower over this period.” It did not provide a specific target for the ratio, however, which currently stands at approximately 51.5.
For more gold and silver price forecasts and commentary, visit GoldAlert Pro @ http://pro.goldalert.com
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