"The open-ended nature of QE ... promises longevity for a higher gold trade"
Zurich-based investment bank UBS AG lifts its 2012 average estimate for
gold prices by $20 an ounce to $1,700 and its 2013 estimate to $1,900 from $1,725.
"The open-ended nature of QE ... promises longevity for a higher
gold trade and the quantitative easing and strength in
gold also supports
silver," the Swiss bank noted.
"We also materially increase our
silver price 2012/13 price forecasts (including the long-term price)."
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