Silver Price Recovery Fails to Reach UBS Forecasts
The silver price has made a partial recovery after a volatile week, but it still has a long way to go to reach UBS's forecast of $70 in December and $80 in September 2027.
On Friday, the price rebounded to $64.48 an ounce, regaining less than a third of Thursday's losses. However, this 1.64% increase left XAG/USD down 2.6% for the week.
UBS has maintained its earlier projections, with December's $70 estimate around 8.6% above Friday's close and September 2027's $80 target 24% higher than current prices.
The bank's economists had already anticipated a rate rise, which occurred when US core inflation accelerated to 0.3% month-on-month in August from 0.2% in July. UBS said that the hike itself would have a relatively limited impact and that markets would focus on the tone of the subsequent press conference.