MTECHTIPS;-Silver to average $44/Oz in 2013; Gold at 2013/Oz: Deutsche Bank

MTECHTIPS;-Silver to average $44/Oz in 2013; Gold at 2013/Oz: Deutsche Bank

Silver prices are expected to average $44 an ounce in 2013, said Deutsche Bank in a quarterly commodity research note.Deutsche Bank raises its 2013 silver prices forecast by 3% from their previous estimate. Their 2012 fourth-quarter average estimate for silver is $37 an ounce, also down 2.6% from their previous forecast.According to the Deutsche Bank, gold prices are forecast to rise above $2,200 an ounce in 2013, supported by central bank stimulus action.The move above $2,200 would be an extreme, if it occurred. Commodity prices can be prone to overshooting. Their 2013 average estimate for gold is $2,113, which is a 3% rise above their previous estimate. They see gold prices averaging $1,850 in the fourth quarter of this year, which is a 2.6% discount to their previous estimate, said the largest German bank.“We believe the major beneficiary of a third round of quantitative easing by the U.S. Federal Reserve and fiscal cliff fears will be the precious metals complex. Not only will it keep U.S. real interest rates negative for the foreseeable future, but, it will sustain U.S. dollar weakness, in our view,” the bank added.

WWW.MTECHTIPS.COM
07489294118/119