Credit Suisse (CS) Tuesday raised its 2012 gold and silver forecasts, while cutting its outlook for platinum group metals.

The bank raised its 2012 forecast for gold 19% to $1,850 a troy ounce, while upping its silver outlook for next year by 12% to $34/oz.

Credit Suisse cut its 2012 forecasts for the platinum group metals, reflecting its downgrades of several base metals, including copper.

The bank revised its platinum forecast for next year down 9% to $1,775/oz and slashed its palladium outlook 23% to $771/oz.

-By Francesca Freeman, Dow Jones Newswires; +44 (0)20 7842 9412; francesca.freeman@dowjones.com