"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)."