Silver to average $17.80 an ounce during 2017

NEW YORK (Scrap Register): Sliver prices is expected to average $17.80 an ounce during next year, said Credit Suisse and its silver forecast for 2018 was $18.50 an ounce.
Credit Suisse has an upbeat view on gold for 2017, calling for the yellow metal to average $1,338 an ounce and draw support from increased trade protectionism, geopolitical-related currency volatility and improved Asian demand. 
The bank looks for $1,275 gold in the first quarter and $1,400 in the final three months of 2017. The 2018 forecast was pegged at $1,375 an ounce.
The Credit Suisse outlook called for gold to snap back after falling sharply since the November 8 U.S. presidential election. 
The decline occurred as bond yields rose on expectations that a higher supply of government debt will be issued to fund deficits, as well as increased expectations for Federal Reserve rate hikes to combat inflation. Exchange-traded-fund holdings of gold have fallen 7%. Additionally, weakness in Indian demand played a role in gold’s recent slide.