Africa Economics Update South Africa: Economy probably dodged recession in Q2 Activity data for May suggest that South Africa’s economy has improved after contracting in Q1. We expect that the economy returned to growth in Q2, narrowly missing a technical recession. 14th July 2016 · 1 min read
Metals Watch Slower global growth to weigh on PGM prices Platinum group metals (PGMs) are primarily used in the automobile sector as catalysts for air pollution abatement in light- and heavy-duty vehicles. Auto sales in the three biggest markets, China, the... 12th July 2016 · 1 min read
Commodities Weekly Prices vulnerable to a reassessment of US rate outlook Despite a spectacular 287,000 gain in non-farm payrolls in June, Fed funds futures are still only pricing in a 50% chance of a US interest rate hike by the end of 2017. This dovish spin allowed the... 8th July 2016 · 1 min read
Precious Metals Update Weakness in official sector’s gold buying to be short-lived The latest data suggest that gold demand from the official sector remained subdued in May. However, we expect this to be only temporary as central banks continue to diversify away from the US dollar... 7th July 2016 · 1 min read
Precious Metals Update Will ‘Brexit’ drive a new bull market in gold? The UK’s decision to vote in favour of leaving the European Union in a nationwide referendum on 23 rd June – or ‘Brexit’ – has already boosted the prices of precious metals. The prospects for both... 6th July 2016 · 1 min read
Metals Chart Pack Prices rally into July The prices of both industrial and precious metals have jumped in the last month, despite falling initially in the wake of the UK’s vote to leave the EU on 23rd June. Prices subsequently recovered on... 4th July 2016 · 1 min read
Commodities Weekly Brexit vote has a silver lining The price of gold has predictably done well in the wake of the UK’s surprise vote to leave the EU (‘Brexit’). But the real star of the show has been silver, whose price has already jumped by nearly 20... 1st July 2016 · 1 min read
Commodities Chart Pack Commodities brush off Brexit blues Commodities outperformed equities in June as the UK’s surprise vote to leave the European Union sapped risk appetite in global markets. Gold prices predictably benefited from the heightened... 1st July 2016 · 1 min read
Precious Metals Update Will silver continue to outshine gold? The price of gold has predictably done well in the wake of the UK’s surprise vote to leave the EU (‘Brexit’). But the real star of the show has been silver, whose price has already jumped by 20% in US... 1st July 2016 · 1 min read
Metals Watch Electric cars could be a game-changer for base metals Tesla, Chevy, and Nissan, three major car makers, have recently announced plans to start selling long-range affordable electric vehicles (EVs) over the next few years. This could potentially be a game... 28th June 2016 · 1 min read
Metals Data Response China and India’s gold imports (May) China’s gold imports rebounded strongly in May, after a weak start to the year. While premiums in the local market have recently turned negative, Brexit fears could spur a fresh wave of safe-haven... 27th June 2016 · 1 min read
Commodities Weekly A relatively muted response to Brexit Unsurprisingly, the prices of most commodities have fallen in the wake of the UK’s vote to leave the EU. The main exception is gold, which has benefitted from renewed safe-haven demand as well as the... 24th June 2016 · 1 min read
Commodities Update UK vote for ‘Brexit’ not a game-changer for commodities The UK’s vote to leave the EU has predictably undermined the prices of industrial commodities, including oil (which initially fell by around 5% in US dollar terms) and copper (-3%), while boosting... 24th June 2016 · 1 min read
Industrial Metals Update China’s metals imports treading water China’s metals import demand in May remained robust but down from the highs reached in March. In some cases, lower supply and higher prices are acting as constraints on import volumes. 21st June 2016 · 1 min read
Commodities Weekly All about Brexit Worries about contagion from a UK vote to leave the European Union (‘Brexit’) have undermined the prices of riskier assets this past week, including oil and other industrial commodities, while... 17th June 2016 · 1 min read
Precious Metals Update Brighter times ahead for India’s gold demand India’s gold demand has undeniably been weak so far in 2016, but we expect buying to pick up later in the year due to the release of pent-up demand following a jewellers’ strike in Q2 and to the... 17th June 2016 · 1 min read
