Investing.com - Buy Silver at Current Levels: UBS
Article by investing.com
UBS reaffirmed its positive outlook on silver, forecasting a price jump for the precious metal in the coming months despite recent declines.
Silver prices temporarily fell below $30 per ounce, and the gold-silver ratio hit approximately 100 times.
“We think silver prices below $30/oz are unlikely to last over the next 3-6 months,” strategists Dominic Schnider and Wayne Gordon said in a note.
The bank reiterates its forecast that silver should trade around $36-38 per ounce in the second half of the year.
UBS attributes the recent drop in silver prices to risk-off sentiment in global markets, largely due to U.S. President Donald Trump’s trade policies, which have led to major corrections, particularly in equities.
Strategists said this market reaction reminds them of silver’s performance during the .....