UBS Forecasts Average Gold Price of $2,050 an Ounce in 2012

Dec. 15 (Bloomberg) -- Gold will average $2,050 an ounce in 2012 and $1,578 an ounce this year, UBS AG said. This compares to earlier estimates of $2,075 an ounce for 2012 and $1,615 an ounce for 2011, it said in a report dated yesterday.

The bank expects platinum to average $1,675 an ounce in 2012 and $1,729 an ounce in 2011, analysts including Julien Garran wrote in the report. This compares to previous targets of $1,665 an ounce for 2012 and $1,725 an ounce this year, they said.

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