gold

An improving macroeconomic outlook and better risk
appetite is likely to drive silver to outperform gold for most of the second
half of 2012, and 2013, says BNP Paribas. Still, silver, like gold, remains
vulnerable to waves of liquidation, says the bank, which lowers its 2013
average silver forecast to $51/oz from $52/oz. It maintains its 2012 forecast
at $37.50/oz. The bank leaves its gold forecasts unchanged, reiterating
expectations of $1,850/oz in 2012 and $2,225/oz in 2013. Spot silver drops 54.9
cents to $32.346/oz, while spot gold falls $11.79 to $1,651.86/oz.