(Kitco News) - TD Securities increased its 2014 gold and palladium price forecasts, while cutting their outlooks for silver and platinum.
The Canadian bank increased its third quarter estimate for gold by $35 an ounce to $1,295 and its fourth quarter estimate by $15 to $1,265. They lifted their annual 2014 average price by $13 to $1,285. For palladium, TDS boosted its third quarter estimate by $50 to $875, and the fourth quarter estimate by $25, also to $875. They lifted their annual 2014 average price by $19 to $827.
“While our fundamental view has not changed, the fourth quarter 2014 gold level was upgraded slightly to reflect recent positive price action caused by Middle East and Russia tensions and choppy U.S. economic data,” the bank said.