Precious Metals Update Higher loadings won’t stop palladium prices falling We have revised up our estimates of palladium demand, despite weak car sales, due to higher loadings in China and Europe. We still expect the price of palladium to fall back from $1,310 per ounce... 23rd May 2019 · 1 min read
Precious Metals Update Q1 2019 World Gold Council Demand Trends While flattered by base effects, a surge in central bank buying and strong inflows to exchange-traded funds (ETFs) meant that gold demand grew by a healthy 7% y/y in Q1. While central banks should... 2nd May 2019 · 1 min read
Precious Metals Update Silver prices likely to rebound Despite weaker industrial demand, we expect silver prices to rally by more than 10% this year as safe-haven demand returns and mine production falters. 19th March 2019 · 1 min read
Precious Metals Update Emissions drama returns to the PGM markets This week Fiat Chrysler Automobiles (FCA) announced a recall of almost 1 million vehicles. But even this should be insufficient to prevent palladium or rhodium prices from dropping markedly from... 15th March 2019 · 1 min read
Precious Metals Update Gold still set to shine Despite having risen by over a tenth in the past six months, we believe that the upswing in the gold price has further to run. Our forecast of falling equity prices this year suggests strong demand... 1st March 2019 · 1 min read
Precious Metals Update Palladium prices ignore fundamentals The price of palladium has reached another record high today, but we remain of the view that this elevated level is unlikely to last. In fact, it is now clear that supply rose strongly in 2018 which... 15th February 2019 · 1 min read
Precious Metals Update Q4 & 2018 World Gold Council Demand Trends Gold demand from the official sector soared to its highest level since 1967 last year as central banks became increasingly keen to diversify from dollar assets. But, we expect the big story for 2019... 31st January 2019 · 1 min read
Precious Metals Update New gold and silver price forecasts We remain bullish on gold and silver prices and have revised up our end-2019 forecasts to $1,350 per ounce and $17.50 respectively, as we expect both metals to attract investors seeking safe havens. 10th January 2019 · 1 min read
Precious Metals Update One small step … China has announced a (small) increase in its reported official sector gold holdings for the first time in over two years, but regardless of whether this is repeated in the near future, central bank... 8th January 2019 · 1 min read
Precious Metals Update Palladium’s golden days may not return The price of palladium rose above that of gold earlier this week for the first time since 2002, but gold has returned to a premium today and we think this premium will grow as the palladium price... 6th December 2018 · 1 min read
Precious Metals Update Investors to return to precious metals We think that the prices of precious metals, except palladium, will rise in 2019, in part because we expect an early end to Fed tightening and stronger safe-haven demand in the second half of the year... 28th November 2018 · 1 min read
Precious Metals Update Silver surplus unlikely to last long The silver market has moved into its first meaningful surplus since 2010 as investor demand has plunged but we expect this will rebound next year, causing the surplus to dwindle and silver prices to... 21st November 2018 · 1 min read
Precious Metals Update Q3 2018 World Gold Council Demand Trends After a lacklustre first half of the year, global gold demand rose in Q3, albeit marginally. We think that consumer demand may well remain soft in Q4, but the upturn in ETF holdings in October could... 1st November 2018 · 1 min read
Industrial Metals Update Weak auto sales signal lower metals prices ahead Automobile demand has been sluggish for several months in China. This will weigh on demand for most metals and lead to lower prices too, especially for platinum group metals (PGMs) prices. 18th October 2018 · 1 min read
Precious Metals Update Gold/silver price ratio to fall from 23-year high We think the prices of both gold and silver will rise in 2019 but silver looks set to outperform. It will benefit from its higher beta, a recovery in investor interest and a sharp slowdown in mine... 17th September 2018 · 1 min read
Precious Metals Update Weak consumer demand to drag on gold prices The latest trade data for India and China show divergent trends in imports of gold by the two largest consumers. China’s gold imports dropped on signs that the economy is slowing, while India’s... 28th August 2018 · 1 min read
