New York, June 25: Morgan Stanley has lowered its gold and silver price forecasts because of the possibility of reduced US Federal Reserve monetary stimulus.
The bank cut its 2013 gold price forecast by 5 per cent to $1,409 an ounce and its 2014 estimate by 16 per cent to $1,313.
Morgan Stanley lowered its 2013 silver price forecast by 14 per cent to $23.39 an ounce and its 2014 estimate by 29 per cent to $21.01 an ounce.
