J.P. Morgan Lowers Gold Outlook

J.P. Morgan cut its 2013 forecast for gold to $1,595 an ounce, versus its earlier forecast of $1,745 an ounce. J.P. Morgan also lowered its 2015 outlook for gold by 5% to $1,650 an ounce. The copper forecast for 2013 was lowered by 4% to $3.50 a pound. J.P. Morgan also lowered its 2013 forecast for silver to $27.89 an ounce from $30.01 an ounce.