Silver gets downgraded by UBS which slashes its one-month outlook by about a third to...

|By:, SA News Editor

Silver gets downgraded by UBS which slashes its one-month outlook by about a third to $17.50/ounce and the 3-month forecast 27% to $20.50. For the year, the price is expected to average $24, off 17% from previous. Silver lacks its own drivers, says UBS, and will thus take cues from gold where GLD is off 1% premarket. SLV -2%, AGQ -4%, ZSL +4% premarket.