Precious Metals Update Turnaround in global growth to hit gold demand If the coronavirus is eventually brought under control, we think that 2020 will mark a turnaround for gold demand. ETF inflows are likely to shrink as a more benign macroeconomic backdrop stunts safe... 4th February 2020 · 3 mins read
Precious Metals Update Palladium dancing to its own tune Palladium’s blistering price rally has probably run its course, but we expect prices to remain close to historic highs in 2020. The market is mired in a deficit and demand growth looks set to remain... 30th January 2020 · 3 mins read
Precious Metals Update Gold set to lose Midas touch While the price of gold remains elevated at present, we think it’s only a matter of time before it begins to ease back. Subdued gold imports in China and India and softer safe-haven demand should... 14th January 2020 · 3 mins read
Precious Metals Update Base metals to dethrone precious this year We forecast that the prices of base metals will fare better than precious metals in 2020. This view hinges on a modest recovery in the global economy, which should give a lift to metals demand at a... 7th January 2020 · 4 mins read
Precious Metals Update Higher gold price forecast, but big picture unchanged We have revised up our end-2020 forecasts for the prices of gold and silver as we now expect a smaller rise in US Treasury yields next year. That said, we retain our view that a softening in safe... 8th November 2019 · 3 mins read
Precious Metals Update China and India Gold Imports (Sep.) Gold imports by China and India fell once again in September. With the Chinese economy set to slow and Indian consumer preferences slowly drifting away from gold, Asian physical demand is likely to... 25th October 2019 · 2 mins read
Precious Metals Update The gold price rally is over While we are revising up our once-bullish end-2019 forecasts for the prices of gold and silver, we think that the price rally this year has now run its course. Next year, we expect a recovery in bond... 11th September 2019 · 3 mins read
Precious Metals Update China and India Gold Imports (Jul.) Gold’s price rally saw Indian and Chinese imports continue to tumble in July. And, given that prices have risen further in August, gold imports could record multi-year lows in the second half of 2019. 28th August 2019 · 2 mins read
Precious Metals Update Palladium and rand dent platinum’s prospects We forecast that a weaker South African rand coupled with the high prices of by-products at platinum mines will mean that the price of platinum stays firmly in the doldrums over the next couple of... 19th August 2019 · 3 mins read
Precious Metals Update Q2 & H1 2019 World Gold Council Demand Trends Central bank buying and ETF inflows underpinned robust demand for gold in the first half of 2019. While we think that strong official sector buying will continue, ETFs may start to see outflows as... 1st August 2019 · 3 mins read
Precious Metals Update What a difference two decades make … The ending of the Central Bank Gold Agreement signals that worries about central bank gold sales are firmly behind us. In fact, central bank buying is now a significant prop rather than a headwind to... 30th July 2019 · 3 mins read
Precious Metals Update Palladium’s blue sky rally to cloud over The price of palladium has surged amid higher demand for the metal from the Chinese auto sector, due to the ‘Blue Sky Protection Plan’, and investor buying. But our in-house demand proxy suggests the... 19th July 2019 · 3 mins read
Precious Metals Update Why gold prices have risen too far, too fast In the last month, a slew of events sparked gold’s strongest rally in nearly three years. We have not changed our long-held view that lacklustre global growth and a tumble in equity markets will keep... 5th July 2019 · 3 mins read
Precious Metals Update China and India Gold Imports (May) Gold imports in India and China diverged in May, as temporary factors propped up consumer buying in the former, while demand in the latter remained sluggish. But we expect import demand for gold in... 25th June 2019 · 2 mins read
Precious Metals Update Gold has further to rise in 2019 The combination of a scaling back of US interest rate expectations, a struggling S&P 500, and the dollar coming off the boil has lifted the price of gold to a three-month high during the past week... 5th June 2019 · 1 min read
Precious Metals Update China and India Gold Imports (Apr.) Chinese and Indian gold imports rose sharply in April, in part owing to lower prices. However, our forecast of a rally in the gold price this year suggests that India’s jewellery demand, in particular... 28th May 2019 · 1 min read
