Precious Metals Update Gold to benefit from revival of Grexit concerns Whether or not Greece ultimately exits the euro, we expect the price of gold to be boosted further this year by the return of safe-haven demand as the country’s financial problems drag on. 30th January 2015 · 1 min read
Industrial Metals Update Mine closures will lift zinc prices in 2015-16 Solid demand growth coupled with rapidly deteriorating mine supply prospects suggest zinc prices are set to rise in 2015-16. However, the potential for the release of unofficial stocks and restarts of... 30th January 2015 · 1 min read
Commodities Update Bargain hunting to boost China’s commodity imports in 2015 Opportunistic buying supported strong growth in Chinese imports of many industrial commodities in 2014. We expect this trend to continue this year, supporting prices. 30th January 2015 · 1 min read
Industrial Metals Update What next for the dysfunctional aluminium market? The aluminium market remains dysfunctional, as high stocks struggle to find their way onto the market, leading to elevated price premiums. Supply into the physical market should improve this year... 29th January 2015 · 1 min read
Commodities Update Ukraine’s move to curb wheat exports won’t stop prices falling Given ample global wheat supplies we don’t expect Ukraine’s announcement that it will limit wheat exports over the next six months to have much of an impact on the market. We therefore continue to... 29th January 2015 · 1 min read
Precious Metals Update Platinum prices to rise on buoyant jewellery demand The fall in the platinum price in H2 2014 has made the metal look increasingly good value. We expect strong growth in jewellery demand, notably in Asia, the release of some pent-up demand for new cars... 28th January 2015 · 1 min read
Energy Update Rise in US oil stocks supports spot prices The surge in US stocks of oil in the last few weeks has been driven at least in part by attempts to arbitrage low spot prices with higher futures ones. This should support prices over the next few... 27th January 2015 · 1 min read
Commodities Update Outlook for US homebuilding is positive for lumber Stronger economic growth in the US and rising wages should provide a platform for a rebound in the number of housing starts this year, boosting the price of lumber. 26th January 2015 · 1 min read
Commodities Update Weak demand adds to pressure from ample supply The S&P GSCI Agriculture Commodity Price Index has begun 2015 the same way it finished 2014 – on a downward path. The index has fallen 4% since the start of the year, dragged down by a near 10% drop... 23rd January 2015 · 1 min read
Precious Metals Update Silver to out-perform gold as both climb further An environment of rising gold prices and improving sentiment towards the global economy should see the price of silver out-perform its fellow precious metal. We are raising our forecasts for silver... 23rd January 2015 · 1 min read
Commodities Update Weak demand to push the price of cocoa lower Falling cocoa grindings in Europe, North America and Asia suggest that the world has lost some of its sweet tooth. We expect weaker demand and ample supply to push the price of cocoa lower. 23rd January 2015 · 1 min read
Commodities Update China and Euro-zone Flash Manufacturing PMIs (Jan) The flash PMIs for China, the euro-zone and Japan all rose in January. Admittedly, the increases were small, but signs of stronger domestic growth in China and a stabilisation in the euro-zone economy... 23rd January 2015 · 1 min read
Industrial Metals Update Mine closures to boost lead prices The lead price has mirrored falls in copper in recent months. Whilst demand growth is set to remain unspectacular in 2015, and sentiment may be weak, recent and impending mine closures will provide a... 22nd January 2015 · 1 min read
Commodities Update What does QE in the euro-zone mean for commodities? The European Central Bank’s decision to launch a large-scale programme of government bond purchases under quantitative easing (QE) is unlikely to provide a major boost to the prices of global... 22nd January 2015 · 1 min read
Energy Update Fall in US oil rigs should lead to a fall in output, just not yet The fall in the number of rigs drilling for oil in the US is the latest sign that firms are beginning to respond to the collapse in oil prices by cutting back on investment. However, we expect US oil... 21st January 2015 · 1 min read
Precious Metals Update Gold price on track for $1,400 The continued recovery in the gold price to $1,300 per ounce today means that it has already hit our (relatively bullish) target for the end of this year. Looking ahead, one big unknown is the market... 21st January 2015 · 1 min read
