Metals Chart Pack Trade war fears prompt metals sell-off Metals prices were caught up in the general market sell-off following the ramping up of tensions between the US and China in June. (See Chart.) Signs of softer economic growth in China also... 4th July 2018 · 1 min read
Commodities Chart Pack Rising protectionism drags on commodity prices Overview – Most commodity prices fell in June, depressed by escalating trade tensions and a stronger US dollar. Energy prices were the main exception. 2nd July 2018 · 1 min read
Metals Focus Will platinum trade at a premium again? With anti-diesel sentiment unlikely to dissipate anytime soon, we expect the price of platinum to continue to trade at a discount to palladium until 2020 when a combination of demand and supply... 28th June 2018 · 1 min read
Metals Data Response China and India Gold Imports (May) The latest trade data for India and China show divergent trends in imports of gold by the two largest consumers. China’s gold imports rose strongly in May on the back of robust wholesale consumption... 26th June 2018 · 1 min read
Commodities Weekly OPEC: Will they, won’t they? Most commodity prices fell sharply this week on concerns that the rise in trade tensions between the US and China could spiral into a full-blown trade war. There were particularly sharp drops in the... 22nd June 2018 · 1 min read
Metals Watch Has gold lost its safe-haven status? Tensions between the US and China have escalated over the past few days, with both countries announcing hefty tariffs. Yet, the price of gold fell on the news. In this Metals Watch we first look at... 19th June 2018 · 1 min read
Precious Metals Update Fed tightening to put a cap on gold prices in 2018 Somewhat counterintuitively, the price of gold edged higher following the Federal Reserve’s decision to hike US interest rates for the second time this year. But we don’t think this is the start of a... 14th June 2018 · 1 min read
Commodities Weekly All eyes on Trump The EU, Canada and Mexico all announced retaliatory tarrifs on certain imports from the US this week. Although we doubt that this is the start of a full-blown trade war, the risk of one is greater now... 8th June 2018 · 1 min read
Precious Metals Update Silver’s outperformance won’t last While a jump in US Treasury yields has weighed on the price of gold over the past month, the price of silver has rallied. However, we doubt that silver will outperform gold for long. 7th June 2018 · 1 min read
Metals Chart Pack Metals shrug off strong dollar For the most part, metals prices rose in May despite the dollar appreciation. Robust demand and tighter supply buoyed the prices of aluminium, nickel and lead. However, we still think that slower... 5th June 2018 · 1 min read
Commodities Update Divergence with the dollar unlikely to last In the last month, commodity prices have risen or held steady, despite a sharp appreciation of the US dollar. We think that the long-run inverse relationship will be restored in the second half of... 5th June 2018 · 1 min read
Commodities Weekly Trade back in focus It has been a busy week on the news front. The early part of the week was dominated by the political crisis in Italy, which weighed on the euro. Later in the week, President Trump announced that he... 1st June 2018 · 1 min read
Commodities Chart Pack Commodities shrug off the stronger dollar Commodity price indices surged in May despite a jump in the US dollar. Oil prices got a boost from the re-imposition of US sanctions on Iran which threaten to reduce oil output by up to 1m bpd... 1st June 2018 · 1 min read
Metals Watch Rally in US steel prices to prove self-defeating President Trump’s decision to impose a 25% tariff on US steel imports has sent the price of US hot-rolled coiled steel skyrocketing. But how sustainable is the rally in prices? In this Metals Watch we... 31st May 2018 · 1 min read
Industrial Metals Update Investors become less positive on metals Investor sentiment in the metals markets has deteriorated since the start of 2018, although more so for precious metals than industrial. Some of the technical indicators that we monitor have recently... 25th May 2018 · 1 min read
Precious Metals Update How sustainable is the recent fall in gold prices? The recent fall has brought the price of gold close to our end-2018 forecast of $1,300. While Fed policy tightening is usually negative for gold prices, higher demand for inflation hedges and a weaker... 17th May 2018 · 1 min read
