Precious Metals Update Real yields and gold The recent drop in the price of gold below $1,700/oz. has illustrated its greater sensitivity to US long- than short-dated real yields. Although the price has nudged back up above this level at the... 31st March 2021 · 4 mins read
Commodities Weekly Impact of Suez blockage likely to be short-lived Commodities markets were something of a mixed bag this week. The grounding of a container ship in the Suez Canal helped to prop up the prices of some commodities despite growing worries over the... 26th March 2021 · 6 mins read
Metals Watch The outlook is brighter for palladium than platinum In this Metals Watch, we examine the outlook for supply and demand of platinum and palladium to determine the direction of their prices over the next couple of years. 24th March 2021 · 5 mins read
Metals Data Response Global Aluminium Production (Feb.) Average daily global aluminium production inched up in February. And with ShFE and LME prices at multi-year highs, we expect production to continue growing in 2021. 22nd March 2021 · 2 mins read
Commodities Weekly Optimists need a little patience Commodities markets experienced a bit of a reality check this week, with prices falling despite little material change in the underlying demand and supply fundamentals. In the same way that optimism... 19th March 2021 · 5 mins read
Commodities Focus The anatomy of a supercycle History shows that supercycles are usually demand-driven, and that the performance of individual commodity prices has varied hugely both within and between past supercycles. In addition, supercycles... 17th March 2021 · 13 mins read
Precious Metals Update Gold unlikely to fall much further While we are revising down our forecast, we don’t expect the price of gold to fall that much further this year. In our view, the recent decline in investment demand is unlikely to continue for long... 10th March 2021 · 2 mins read
Commodities Weekly Oil prices making up for lost time It was a relatively two-sided affair in commodities markets this week. On the one hand, oil prices rose on the back of greater-than-expected output restraint announced by OPEC+. And on the other hand... 5th March 2021 · 8 mins read
Industrial Metals Update Checking back in with our demand proxies Our in-house demand proxies offer further evidence that industrial metals prices are running ahead of the underlying fundamentals. This helps to explain the sharp drop in industrial metals prices... 4th March 2021 · 2 mins read
Metals Chart Pack Rally in industrial metals unlikely to last Most metals prices advanced in February, with the exception of gold and silver. However, we suspect that the current prices of industrial metals look overextended, especially given the recent run of... 3rd March 2021 · 6 mins read
Commodities Chart Pack Investor optimism may prove short-lived Most commodity prices rose in February encouraged by falling COVID-19 infections and the vaccine rollout, which point to a recovery in economic activity and higher commodities demand later in the year... 1st March 2021 · 7 mins read
Commodities Weekly Biden’s State of the Union might boost metals prices Abnormally cold temperatures in the US, particularly Texas, have forced a significant share of US oil wells and refineries offline this week. Oil prices initially surged on the back of this disruption... 19th February 2021 · 7 mins read
Commodities Weekly Silver briefly in the spotlight … In an otherwise fairly quiet week, some wild gyrations in the silver market were the focus of investor attention. Starting late last week, the price of silver surged by 20% to reach a multi-year high... 5th February 2021 · 7 mins read
Precious Metals Update Just another spell of volatility for the silver price Many media reports have linked silver’s recent price volatility to last week’s targeted buying of a handful of small US equities by retail investors. But we reckon that it marks just another bout of... 4th February 2021 · 3 mins read
Precious Metals Update Physical demand to bolster gold prices in 2021 Despite a surge in gold prices last year, physical demand for gold fell precipitously. But we think that a brighter economic outlook will boost consumer demand this year and help to prop up the gold... 2nd February 2021 · 2 mins read
Commodities Weekly Saudi Arabia springs a surprise After a strong finish to 2020, most commodity prices built on their gains in the first week of January, as investor sentiment continued to prove supportive and Saudi Arabia announced that it would... 8th January 2021 · 7 mins read
