Metals Watch Higher inflation won’t stop the gold price from falling In this Metals Watch, we revisit the theoretical relationship between the price of gold and inflation, before assessing how this relationship has held up throughout history . The key takeaway is that... 17th November 2021 · 7 mins read
Commodities Watch How the American Jobs Plan could affect commodities In this Commodities Watch, we take a first look at some of the most important features of President Joe Biden’s $2 trillion infrastructure package, known as the American Jobs Plan, from a commodities... 14th May 2021 · 11 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 Watch Assessing the risk of a ‘second wave’ of supply loss In this Metals Watch, we examine the risks to supply posed by high rates of infection among mine workers. We start by looking at what has happened to output at mines so far this year, before assessing... 10th July 2020 · 5 mins read
Metals Watch Picking apart the silver price Silver is often described as having a strong price correlation with the business cycle, owing to its numerous industrial applications. Others cite its safe-haven appeal. In this Metals Watch, we... 18th May 2020 · 9 mins read
Metals Watch Are aluminium stocks set for a re-run of the GFC? In this Metals Watch, we take a closer look at whether the global aluminium market is set for a re-run of the global financial crisis (GFC), when a surge in exchange stocks depressed prices for... 6th May 2020 · 6 mins read
Metals Watch Copper’s “price premium” to grow In this Metals Watch, we introduce our measure of the “fundamental” copper price. A key takeaway is that, while we expect the traded price of copper to recover some lost ground by year-end, there is... 30th March 2020 · 7 mins read
Metals Watch Palladium to outperform platinum if AMCU strike There is a significant risk that the ongoing wage negotiations between platinum group metals (PGM) producers in South Africa and the Association of Mineworkers and Construction Union (AMCU) will lead... 4th October 2019 · 5 mins read
Metals Watch Incoming US tariffs put metals in the crosshairs As it stands, the US is set to levy a 15% tariff on roughly $300bn of ‘List 4’ imports from China, of which around half will be introduced on 1st September and 15th December respectively. We had... 29th August 2019 · 6 mins read
Metals Watch Surpluses to weigh on cobalt prices in 2019 and 2020 There has been a renewed slump in the price of cobalt in recent months, owing in large part to a jump in supply. In this Metals Watch, we explore cobalt’s short-term supply and demand prospects and... 19th June 2019 · 1 min read
Metals Watch Recent drags on car sales are set to unwind Car sales in the world’s largest markets have slumped since mid-2018. In this Metals Watch we explain our forecast for sales to begin recovering later this year. 22nd May 2019 · 1 min read
Metals Watch Platinum ETF holdings to increase to record high In stark contrast to recent years, investors have been drawn to platinum so far in 2019. As a result, ETF holdings have risen by more than a sixth in just two months and are rapidly approaching the... 12th March 2019 · 1 min read
Metals Watch Prices to fall, despite low exchange stocks Exchange stocks in most base metals have slumped over the past year. Typically, this is associated with strong demand or weak supply growth, and results in higher metals prices. In this Metals Watch... 19th February 2019 · 1 min read
Metals Watch Gold on the road to recovery The price of gold has slowly and steadily risen in recent weeks to a 5-month high ahead of last night’s US Federal Reserve meeting. In this Metals Watch, we explain why we believe this rally in the... 20th December 2018 · 1 min read
Metals Watch Iron ore prices to weaken The price of iron ore has jumped on the back of expectations of weaker anti-pollution measures in China. In this Metals Watch we explain why we think higher prices will prove short-lived. 16th November 2018 · 1 min read
Metals Watch Zinc prices to weaken again in 2019 In recent days, the price of zinc has rebounded a little after plummeting over the summer. In this Metals Watch we will discuss why we think that any rally will prove short-lived. A slew of new mines... 26th September 2018 · 1 min read
