Silver forecast from UBS

UBS raises silver price forecast, expects outperform relative to gold. UBS strategists raised their silver price forecast on the expectation that silver will outperform gold in the near term. The bank raised its 2024 year-end price target for silver by 20 percent to $36, while also raising its expectation for the average price by 14 percent to $30.5. “Our new silver price expectations reflect outperform relative to gold. We believe silver is well positioned to perform relatively well in an environment where gold prices are rising, the Fed is expected to ease policy, and market supply and demand fundamentals are tightening,” the strategists said.