By Saijel Kishan
Sept. 20 (Bloomberg) -- Credit Suisse Group, Switzerland's second-biggest bank, raised its 12-month forecast for gold, silver and other precious metals because of supply shortfalls and a decline in the value of the dollar.
Gold may trade at $730 to $770 an ounce, compared with the Zurich-based bank's previous forecast of $670 to $720, according to a report yesterday by Tobias Merath, Credit Suisse's head of commodity research.
Silver may trade at $13.50 to $14.50 an ounce compared with the bank's previous forecast of $12.50 to $14.50. Credit Suisse said that platinum may trade at $1,400 to $1,600 an ounce, up from a range of $1,250 to $1,450.
Palladium may trade at $310 to $350 an ounce, compared with $300 to $340, the bank said.
Gold for immediate delivery was at $729.17, silver at $13.1462, platinum at $1,312 and palladium at $335 as of 9:25 a.m. in London.
Sept. 20 (Bloomberg) -- Credit Suisse Group, Switzerland's second-biggest bank, raised its 12-month forecast for gold, silver and other precious metals because of supply shortfalls and a decline in the value of the dollar.
Gold may trade at $730 to $770 an ounce, compared with the Zurich-based bank's previous forecast of $670 to $720, according to a report yesterday by Tobias Merath, Credit Suisse's head of commodity research.
Silver may trade at $13.50 to $14.50 an ounce compared with the bank's previous forecast of $12.50 to $14.50. Credit Suisse said that platinum may trade at $1,400 to $1,600 an ounce, up from a range of $1,250 to $1,450.
Palladium may trade at $310 to $350 an ounce, compared with $300 to $340, the bank said.
Gold for immediate delivery was at $729.17, silver at $13.1462, platinum at $1,312 and palladium at $335 as of 9:25 a.m. in London.
