Precious Metals Update More downside ahead for PGMs Supply of platinum group metals (PGMs) is likely to fall in 2018, as reserve depletion in South Africa takes its toll. Nonetheless, we expect prices to decline from current levels as demand is also... 10th May 2018 · 1 min read
Precious Metals Update Silver mine supply to bounce back in 2018 After two years of declines, we expect silver mine supply to pick up in 2018 as higher industrial metals prices encourage by-product output. This is one reason behind our relatively bearish view on... 8th May 2018 · 1 min read
Precious Metals Update Q1 2018 World Gold Council Demand Trends Global gold demand fell sharply in Q1, primarily owing to lower investment. We expect demand to remain subdued as Fed tightening raises the opportunity cost of holding an asset like gold which bears... 3rd May 2018 · 1 min read
Metals Chart Pack A month of two halves for metals April was a month of two halves for most metals. The imposition of US sanctions on Russia sent the prices of several industrial and precious metals – notably aluminium, nickel and palladium – surging... 2nd May 2018 · 1 min read
Commodities Chart Pack Geopolitics trump fundamentals Commodity price indices surged in April despite a jump in the US dollar. Fading fears of a global trade war gave a lift to riskier assets more generally, while escalating tensions in the Middle East... 1st May 2018 · 1 min read
Commodities Watch Three key risks to commodity prices In this Commodities Watch, we take stock of three of the most serious geopolitical risks that have emerged over the past few months. These are the prospect of a trade war between the US and China, US... 30th April 2018 · 1 min read
Metals Watch Safe-haven demand gives a boost to gold prices Despite the prospect of tighter monetary policy in the US, the price of gold has proved particularly resilient so far this year. We think that strong safe-haven demand on the back of heightened... 30th April 2018 · 1 min read
Commodities Weekly Quiet after the storm The earlier surge in oil and industrial metals prices came to an abrupt halt this week as oil stabilised and there were sharp falls in the prices of some metals. In particular, the US Treasury’s... 27th April 2018 · 1 min read
Metals Data Response China and India Gold Imports (Mar.) The latest trade data for India and China showed that imports of gold in the two largest consumers weakened in March. Higher prices probably discouraged purchases. We had warned that this could happen... 26th April 2018 · 1 min read
Commodities Weekly Rising tensions boost prices Geopolitical concerns continued to be the main driver of commodities prices this week. In particular, fears that US sanctions could be broadened to include Russian producer, Nornickel, buoyed the... 20th April 2018 · 1 min read
Commodities Outlook Too soon to worry about supply Commodity prices have generally had a strong start to the year, boosted in particular by risks to supply. However, in many cases, supply has not been disrupted yet and the worst fears of supply... 20th April 2018 · 1 min read
Precious Metals Update PGMs caught up in panic over Russian sanctions The US sanctions against Russia have supported the prices of platinum and palladium this week. However, Russian output is unlikely to be affected. This, coupled with weakening demand fundamentals... 13th April 2018 · 1 min read
Commodities Update Geopolitical tensions boost prices Commodity prices rebounded at the start of April on the back of concerns over US sanctions on Russia and escalating tensions in the Middle East, despite the dollar being flat. Indeed, only the... 11th April 2018 · 1 min read
Metals Watch How could rising protectionism affect metals markets? Trade protectionism has escalated dramatically since the start of the year and threatens to turn into a full-blown trade war. In this Metals Watch, we look at the most recent developments on trade and... 10th April 2018 · 1 min read
Commodities Weekly Protectionist rhetoric weighs on prices Trade tensions escalated this week, as the US and China engaged in tit-for-tat announcements on proposed tariffs. The prices of commodities which would be affected by the tariffs generally fell... 6th April 2018 · 1 min read
Metals Chart Pack Rising protectionism drives prices lower Fears of a trade war between China and the US and heightened geopolitical tensions weighed on most metals prices last month as investors rotated out of risky assets and into safe havens. In contrast... 4th April 2018 · 1 min read
