Credit Suisse Lowers Gold Price Forecast

Credit Suisse CS lowered its forecast on gold prices for 2013 and 2014. The bank lowered its average price view on gold this year by 9.2% to $1,580 a troy ounce and its 2014 average price outlook by 12.8% to $1,500/oz. The bank lowered its 2013 forecast for silver by 11.5% to $28.50/oz and its 2014 view by 13.1%.