Precious Metals Update Q2 & H1 2017 World Gold Council Demand Trends Global gold demand fell to the lowest level since 2009 in the first half of 2017. Higher prices, fading geopolitical risks and soft jewellery fabrication were the main factors behind the weakness in... 3rd August 2017 · 1 min read
Precious Metals Update China and India’s gold imports (Jun.) The latest trade data for India and China show that gold imports rose in June. Nonetheless, we think that demand will lose momentum in the second half of the year as slower growth in China and a new... 27th July 2017 · 1 min read
Precious Metals Update How will South Africa’s mining charter affect PGM output? South Africa’s controversial new mining charter will probably exacerbate the decline in the PGM sector. Higher costs, in tandem with lower foreign investment, could weigh on PGM production going... 3rd July 2017 · 1 min read
Precious Metals Update Is palladium flying too close to the sun? Increased speculative activity appears to have been the main driver of the recent surge in the price of palladium, which reached a sixteen-year high of $910 per ounce on 9th June. However... 21st June 2017 · 1 min read
Commodities Update Gold’s luck to run out The price of gold was largely unaffected by the Fed’s decision to raise its policy rate target by 25bp, to between 1.00% and 1.25%, yesterday. While many have attributed the resilience in the gold... 15th June 2017 · 1 min read
Precious Metals Update Q1 2017 World Gold Council Demand Trends Global gold demand fell by 18% y/y in Q1 2017, but this was from a high base a year earlier. In comparison to Q4 2016, demand was stronger as geopolitical concerns prompted investor buying. Subdued... 5th May 2017 · 1 min read
Precious Metals Update Central banks’ gold demand wanes The latest data show only a slight increase in central banks’ holdings of gold in February. We anticipate that this weakness will persist throughout 2017. 7th April 2017 · 1 min read
Precious Metals Update Central banks’ gold demand starts the year on a positive note The latest data show that central banks’ holdings of gold increased in January. However, we think that a strong US dollar will be a major headwind for gold demand from the official sector this year. 15th March 2017 · 1 min read
Precious Metals Update Fed tightening to prove too strong a headwind for gold prices After rising for most of February, gold prices have slumped in recent days, falling below the $1,200 per ounce mark, on expectations that the Fed will press ahead with a rate hike next week. We expect... 10th March 2017 · 1 min read
Precious Metals Update Silver mine supply could bounce back Oversupply has been plaguing the silver market for the past ten years. However, the latest data show that production cuts across the industrial and precious metal industries are starting to take their... 15th February 2017 · 1 min read
Precious Metals Update 2016 World Gold Council Demand Trends Global gold demand rose 2% y/y in 2016 to reach a three-year high of 4,309 tonnes. This increase was predominantly the result of strong safe-haven demand in the first half of the year. In 2017, we... 8th February 2017 · 1 min read
Precious Metals Update China and India’s gold demand to remain subdued in 2017 Demand for gold in the two main consumers – China and India – plummeted in 2016 on a combination of higher prices, increased regulation in India and lower appetite for gold jewellery in China. Looking... 3rd February 2017 · 1 min read
Precious Metals Update How sustainable is the recovery in the gold price? After slumping in the days following Trump’s win, the price of gold has since recovered some ground and is now trading at around $1,200 per ounce. However, we think that risks are now skewed to the... 18th January 2017 · 1 min read
Precious Metals Update Central banks’ gold demand could remain subdued in 2017 The latest data show that central banks’ holdings of gold were broadly unchanged in November. However, year-to-date purchases remain substantially lower than in 2015 and this weakness could persist... 12th January 2017 · 1 min read
Precious Metals Update Limited upside for platinum prices in 2017 Platinum has substantially underperformed its sister metals – palladium and rhodium – this year as its higher correlation with gold has seen its price fall sharply since the US presidential election... 9th December 2016 · 1 min read
Precious Metals Update Palladium market to continue to tighten in 2017 The performances of the three main platinum group metals (PGMs) – platinum, palladium and rhodium – have diverged sharply over the past few months. Palladium has seen the biggest gains in the year-to... 2nd December 2016 · 1 min read
