UBS Lowers Silver Price View

UBS AG UBS lowered its view on silver prices. The bank cut its one-month silver outlook by 32.7% to $17.50 a troy ounce, while it lowered its three-month silver view by 26.8% to $20.50 an ounce. The bank now expects silver to average $24 an ounce this year, down 17.2% versus its earlier view. It expects silver to average $25 an ounce in 2014, down 16.7% versus its previous forecast.