The Globe and Mail reports in its Tuesday edition that Raymond James has boosted its forecast for gold and silver by 10 per cent and 20 per cent, to $1,400 per ounce and $20 per ounce. The Globe's David Leeder writes in the Eye On Equities column that the brokerage says the change was "driven principally by the potential for prolonged uncertainty" and the wider ramifications of Brexit "for the European, U.S. and global economies, and also the diminishing prospects of interest rate increases in the U.S." The analysts say: "Fundamentals continue to strengthen -- including gold's ability to co-exist with an appreciating U.S. dollar, supporting our belief that momentum seen in the year-to-date rally will continue to trend higher. We have enhanced conviction that the longs are here to stay with an ignited commodity backdrop to fuel higher equity prices, supported in part by our general observation that the broader market remains underweight precious metal exposure." Raymond James moved Bear Creek Mining ($2.41) to "outperform" from "market perform" due to "increased valuation on the back of revised metal price forecasts." The share target moved to $4.38 from $$2.70. Analysts on average target the shares at $2.86.