India Chart Pack Demonetisation impact wearing off The latest economic data for India suggest that the most acute impact from the government’s demonetisation measures has now passed. Both the manufacturing and services PMI readings for February came... 23rd March 2017 · 1 min read
Commodities Weekly Optimism prevails, for now It has been an eventful week in commodity markets but, for the most part, prices have risen. The US 25bp rate hike on Wednesday was widely anticipated so markets chose to focus on the fact that the... 17th March 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
Metals Data Response South Africa’s Mine Production (Jan.) South Africa’s overall mine production recovered slightly in January, as higher prices acted as an incentive for producers to increase output. The strength in the output data was broad-based, with... 14th 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
Commodities Weekly Commodity prices brace themselves for Fed tightening The big news this week was the ratcheting up of expectations of an imminent rate hike by the Fed, which weighed on most commodity prices. That said, the prices of US grains and soybeans rose, on... 3rd March 2017 · 1 min read
Metals Chart Pack Metals prices consolidate at a higher level The prices of some industrial metals eased back in February, but the bigger picture is that they broadly held on to the gains made in January. A combination of optimism about demand, notably in the US... 3rd March 2017 · 1 min read
Commodities Chart Pack Commodities hold on to their gains, despite uncertainty Most commodity prices traded in a narrow range last month, in the absence of clarity on developments in China (owing to the Lunar New Year Holiday) and on US policy direction. That said, the price of... 1st March 2017 · 1 min read
Metals Data Response China and India’s gold imports (Jan.) The latest import data out of China and India show weak demand for gold in the two largest consumers. While China’s data could be distorted by the timing of the New Year, in India the liquidity crunch... 27th February 2017 · 1 min read
Commodities Weekly Commodities still looking for direction Commodity prices were broadly unchanged this week, aside from a few notable exceptions. Cobalt was the star performer as concerns about supply and expectations of strong demand led to a surge in... 24th February 2017 · 1 min read
Industrial Metals Update Investors remain positive, for now Optimism about demand, fuelled by a pick-up in China’s activity data and the prospect of fiscal stimulus in the US, continues to buoy investor sentiment in the industrial metals markets. However... 24th February 2017 · 1 min read
Commodities Weekly Commodities consolidate While a slight weakening of the US dollar provided some support to prices this week, individual demand and supply fundamentals were the main drivers. Oil prices fell as a further rise in US stocks... 17th February 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
Commodities Update Investors still in love with commodities The prices of most commodities have risen since the start of the year, boosted by optimism about demand and, in some cases, disrupted supply. A period of weakness in the US dollar has helped, but the... 14th February 2017 · 1 min read
Commodities Weekly Yellen’s testimony unlikely to be a market mover Most commodity prices rose this week despite a sharp appreciation of the US dollar. The latest data on Chinese trade, released today, show that commodity import volumes jumped in January but this... 10th February 2017 · 1 min read
Commodities Outlook Time to sound a note of caution Commodity prices continued their strong run in the early weeks of 2017, but we are concerned that investor optimism may fade in the months ahead. Prices have been buoyed by the pick-up in China’s... 10th February 2017 · 1 min read
