Precious Metals Update Rhodium price to benefit from tighter fundamentals The price of rhodium is set to recover over the next couple of years as (i) cuts to capital expenditure in South Africa start to take their toll on production and (ii) usage of the metal in... 31st March 2016 · 1 min read
Precious Metals Update China’s PGM imports soar in February China’s imports of palladium and platinum continued to rise strongly in February. We expect imports to remain buoyant over the coming months as car output trends higher and demand for platinum... 21st March 2016 · 1 min read
Precious Metals Update Much more to gold’s rally than changes in monetary policy The price of gold has been boosted further today by the apparent dovishness of the Fed. Indeed, the consensus view seems to be that the prospects for the precious metal can be distilled down to... 17th March 2016 · 1 min read
Precious Metals Update Palladium price to strengthen, despite high stocks Concerns about China’s demand have been weighing on the price of palladium in recent months. As such, we think the price will recover as investor fears of a hard landing in China are assuaged. However... 11th March 2016 · 1 min read
Precious Metals Update Is ECB easing good or bad for gold? The fall and subsequent rebound in the dollar price of gold after today’s announcement of additional monetary stimulus from the European Central Bank (ECB) should help to settle the debate over what... 10th March 2016 · 1 min read
Precious Metals Update New (higher) forecasts for gold and silver We already had a relatively positive view on the outlook for precious metals. However, two new developments have encouraged us to revise up our medium-term projections for the price of gold and, as a... 4th March 2016 · 1 min read
Precious Metals Update Silver’s underperformance set to reverse soon The recent poor performance of silver is surprising given the resilience of the gold price and the recovery in industrial metals generally. One explanation is that reduced safe-haven demand has... 3rd March 2016 · 1 min read
Precious Metals Update Gold starting to benefit from demand for inflation hedges The ongoing tussle between gold bulls and bears often boils down to a view on the outlook for US interest rates. If the Fed resumes its tightening soon as global risks fade, supporting the dollar, the... 2nd March 2016 · 1 min read
Precious Metals Update Bumper start to the year for China’s PGM imports China’s imports of palladium and platinum surged in January. The seasonal disruption associated with the Lunar New Year holiday might have distorted the figures to some extent. Nonetheless, strong car... 22nd February 2016 · 1 min read
Precious Metals Update Can gold rally even if Treasury yields rebound? Over short horizons the gold price is often driven by the same factors that determine US Treasury yields. This means that the price of the precious metal now looks increasingly vulnerable to a... 19th February 2016 · 1 min read
Precious Metals Update Platinum price to rally as industry braces for strikes The platinum price is set to recover in 2016 as production in South Africa contracts, necessitating a draw-down in the abundant above-ground stocks. We believe that there is a renewed risk of strike... 19th February 2016 · 1 min read
Precious Metals Update Silver to outperform gold in 2016 While subdued industrial demand has been one of the main reasons behind the weakness in silver prices over the last few years, 2016 could be the turning point. Indeed, a recovery in the global... 12th February 2016 · 1 min read
Precious Metals Update 2015 World Gold Council Demand Trends In its latest World Demand Trends report, published today, the World Gold Council described a strong end to last year for gold demand, as a disappointing H1 gave way to robust growth in the second... 11th February 2016 · 1 min read
Precious Metals Update Global central banks continue to add gold to their reserves Global central banks increased their gold reserves in December, with China and Russia once again particularly active. We expect further official purchases to continue to be one of several factors... 10th February 2016 · 1 min read
Precious Metals Update Why isn’t gold doing even better? The further gains in the price of gold today (to a high of $1,140 per ounce) are consistent with the relatively positive view we have had on the precious metal for some time. However, we are in no... 3rd February 2016 · 1 min read
Precious Metals Update India to remain a major importer of gold, for now While the response to India’s Gold Monetisation Scheme has been fairly muted so far, the Sovereign Gold Bond Scheme has been a success, having attracted the equivalent of almost four tonnes of gold... 29th January 2016 · 1 min read
