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
Metals Chart Pack Metals start Q3 on a strong note A weaker US dollar and stronger Chinese economic data boosted metals prices last month. Aluminium was the only exception. (See Chart.) In most cases, industrial metals prices are now more aligned with... 2nd August 2017 · 1 min read
Commodities Chart Pack A weaker US dollar boosts commodities The prices of most commodities rose last month. In part, this was due to a weaker dollar. But stronger economic activity data for China also played a role. We think that growth in China is likely to... 1st 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
Industrial Metals Update China’s metals imports point to strong demand so far in 2017 China’s detailed trade data, released yesterday, revealed that metals demand was strong in the first six months of the year, which helps to explain the recent price rallies. That said, we expect... 25th July 2017 · 1 min read
Commodities Outlook All good, for now Commodity prices have held up well over the last quarter, encouraged by positive economic data out of China, falling expectations of US interest rate rises and signs that crude oil stocks are finally... 24th July 2017 · 1 min read
Commodities Update Commodities back in favour Investors have turned more positive on the outlook for commodity prices in the last month, reflected in a general rise in net-long futures positions. Sentiment has improved on the back of strong... 19th July 2017 · 1 min read
India Economics Update Bond market takes RBI intervention in its stride The bond market has taken the Reserve Bank of India’s (RBI’s) surprise announcement of increased open market sales of government securities in its stride, with yields on local-currency debt remaining... 19th July 2017 · 1 min read
Metals Watch Cheers for silver on hold Despite relatively strong demand from industrial applications and dwindling mine supply, the price of silver has recently fallen to the lowest level since April 2016. In this Metals Watch, we look at... 14th July 2017 · 1 min read
Metals Data Response South Africa’s Mine Production (May) PGM output continued to fall in May as years of underinvestment have started to take their toll on production. The release of the new Mining Charter, if unchanged, is only likely to worsen what is... 13th 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
Metals Data Response China and India’s gold imports (May) The latest trade data show gold imports moved in opposing directions in the two largest consumers last month. The fall in China’s gold imports suggests weaker underlying demand, while India’s imports... 26th June 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 Weekly The losing streak continues It has been a poor week for most commodity prices. The Fed’s decision to hike interest rates on Wednesday weighed on the prices of gold and industrial metals. Oil prices continued to drop, partly due... 16th 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
Metals Focus Short-term and long-term determinants of India’s gold demand India is one of the world’s largest consumers of gold and relies solely on imports to meet domestic gold demand. This has, at times, resulted in a deepening of the country’s current account deficit... 14th June 2017 · 1 min read
