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Deutsche Bank cuts gold, silver forecast for 2013

June 26, 2013 in Gold, Investing, Precious Metals, Silver

By Sara Sjolin (http://www.marketwatch.com)

LONDON (MarketWatch) — Deutsche Bank on Tuesday cut both its short-term and long-term forecasts for most metals, citing slower-than-expected recovery in China. The bank cut its outlook for gold for 2013 6.7% to $1,431 an ounce and slashed the 2014 forecast 10.8% to $1,338. For the third quarter of 2013, the analysts see gold prices around $1,350, down 10% from their previous forecast. For silver, the outlook was lowered 17.3% to $21.40 an ounce for the third quarter, while the 2013 forecast fell 9.9% to $24.10. The bank slashed its copper forecast 5.1% to $3.36 a pound for the third quarter.

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