UB S lowers estimates on gold and silver prices -- fyi
full article on Mineweb:
"“Our expectation for weaker prices by no means suggests a straight path south,” UBS cautioned. “The $1200 average forecast reflects the view that the gold market will fluctuate widely as it faces the crosscurrents of an improving macro backdrop, the changing landscape of physical demand and, ultimately, the implications on mine production.”
Am rooting for gold, so hope the "bulls" are right. Personally think that equities at some point will go up no matter what, as worst case scenarios are priced in for most. Take away Pretium, and most explorers are getting almost no value for their projects (many of which will make profit at sub-$1000 gold).