Precious Metals Update India’s gold demand to remain soft The Indian government’s decision to reverse an order that brought the gem & jewellery sector under anti-money laundering legislation is certainly good news for the gold industry. That said, demand is... 10th October 2017 · 1 min read
Commodities Weekly A busy week ahead … It was a relatively quiet week on the news front, at least until the US labour data on Friday. The 33,000 drop in non-farm payrolls came as a surprise, even though markets had expected hurricane... 6th October 2017 · 1 min read
Metals Chart Pack Hold on to your hard hats! The prices of most metals fell in September as a rising US dollar and upward revisions to expectations of US interest rate hikes weighed on investor sentiment. Signs of somewhat softer economic... 5th October 2017 · 1 min read
Precious Metals Update Platinum-to-palladium spread turns negative, for now Palladium was in the spotlight yesterday as its price traded at a premium to platinum for the first time in sixteen years. However, unlike platinum, investors’ net-long position in palladium looks... 29th September 2017 · 1 min read
Metals Data Response China and India gold imports (Aug.) The latest trade data for India and China show that imports remained soft in August. We had always believed that demand in India would weaken in Q3 as a result of the implementation of the Goods &... 26th September 2017 · 1 min read
India Economics Update Gold imports likely to ease The strength of gold imports in recent months is the result of temporary issues related to the new GST rather than buoyant underlying demand. As these issues get resolved, we expect gold imports to... 20th September 2017 · 1 min read
Industrial Metals Update Investor sentiment could be about to turn Sentiment towards metals remained broadly positive in Q3 as the prospect of capacity cuts in China later in the year supported industrial metals prices whilst heightened geopolitical risks buoyed... 15th September 2017 · 1 min read
Precious Metals Update Investors’ support for palladium to fade We believe that increased speculative activity was the main driver of the recent rally in the price of palladium, which hit a 16-year high on Monday. While it is difficult to know when, if ever... 8th September 2017 · 1 min read
Japan Economics Update Would the yen remain a safe haven during a Korean War? The experience of the last couple of weeks suggests that gold might be the better safe haven choice if war were to break out on the Korean peninsula. Nonetheless, on the evidence of past crises, the... 8th September 2017 · 1 min read
Metals Data Response South Africa’s Mine Production (Jul.) The weak July data for South Africa’s PGM mine output add to evidence that the market is tightening. We expect output to remain soft in the remainder of the year. 7th September 2017 · 1 min read
Precious Metals Update Gold to benefit from high geopolitical risks Elevated geopolitical risks and expectations that the Fed will only raise interest rates slightly this year and next have buoyed the price of gold. While we have revised up our end-2017 forecast to... 31st August 2017 · 1 min read
Commodities Weekly Metals on a roll The prices of most commodities – notably industrial metals – rose this week. While fundamentals have been supportive, we think that the most recent rallies in prices have been exaggerated by... 25th August 2017 · 1 min read
Metals Data Response China and India gold imports (Jul.) The latest trade data for India and China show that gold imports started Q3 on a soft note. We think that demand will continue to weaken in the remainder of the year as slower growth in China and a... 24th August 2017 · 1 min read
Commodities Weekly Speculators give a boost to industrial metals prices The performance of commodities was mixed this week. Softer Chinese activity and construction data for July did little to cool the rally in industrial metals prices whilst increasing geopolitical risks... 18th August 2017 · 1 min read
Precious Metals Update What does the North Korean crisis mean for gold prices? The price of gold was a key beneficiary of the recent increase in tensions between the US and North Korea. While we think that the chances of a full-scale war are quite slim, there remains huge... 11th August 2017 · 1 min read
Commodities Weekly Better economic news boosts industrial commodities A sharp rise in China’s July manufacturing PMI boosted the prices of most commodities last week, but we don’t think that the upturn in China’s economic activity will be sustained, given the increasing... 4th August 2017 · 1 min read
