Precious Metals Update PGM prices got ahead of themselves After years of oversupply, there are now clear signs that the PGM market is tightening. Falling mine supply should help the market to rebalance, but a higher rate of recycling could put a cap on... 10th November 2017 · 1 min read
Precious Metals Update Q3 2017 World Gold Council Demand Trends Global gold demand fell in Q3 to the lowest level in 8 years, continuing the downward trend so far in 2017. Weak jewellery demand and stalling ETF inflows were the main factors behind the decline... 9th November 2017 · 1 min read
Precious Metals Update Gold price overvalued according to most indicators Elevated geopolitical risks and dovish market expectations for Fed tightening have supported the price of gold this year. While we have revised up our end-2017 and end-2018 forecasts, we still expect... 3rd November 2017 · 1 min read
Metals Chart Pack Nickel soars on positive outlook for electric vehicles The prices of most metals rose in October, despite some appreciation of the US dollar and somewhat softer economic data out of China. Optimism about future demand, notably associated with the electric... 2nd November 2017 · 1 min read
Commodities Chart Pack Commodities on a tear October was another strong month for the prices of industrial metals and oil as optimism about demand prevailed while prospects for supply deteriorated. We are more cautious, however. There are now... 1st November 2017 · 1 min read
Metals Watch Zinc to lose its zing in 2018 Since the start of 2016, zinc has doubled in price. A combination of mine closures (owing to depletion), production cuts and solid demand have been the key drivers of the rally. But speculative... 31st October 2017 · 1 min read
Metals Data Response China and India gold imports (Sep.) The latest trade data for India and China show that imports remained subdued in September. We had always believed that demand in India would weaken in Q3 as a result of the new tax system but the... 26th October 2017 · 1 min read
Industrial Metals Update Pockets of strength and weakness in China’s imports There was no clear trend in China’s September metals import data. Indeed, in many cases, we think incoming shipments appeared at odds with the underlying trends in domestic demand and supply. High... 24th October 2017 · 1 min read
Commodities Update Commodities defy stronger dollar Despite a stronger US dollar, the S&P GSCI commodity index trended higher. With the exception of agriculture, all the other sub-indices recorded gains. 18th October 2017 · 1 min read
Commodities Weekly All eyes on China The more industrial commodities have had a good week, which was vindicated to some extent on Friday by data showing a surge in China’s commodity imports in September. Meanwhile, the minutes from the... 13th October 2017 · 1 min read
Precious Metals Update India’s gold demand to remain soft The Indian government’s decision to reverse an order that brought the gem & jewellery sector under anti-money laundering legislation is certainly good news for the gold industry. That said, demand is... 10th October 2017 · 1 min read
Commodities Weekly A busy week ahead … It was a relatively quiet week on the news front, at least until the US labour data on Friday. The 33,000 drop in non-farm payrolls came as a surprise, even though markets had expected hurricane... 6th October 2017 · 1 min read
Metals Chart Pack Hold on to your hard hats! The prices of most metals fell in September as a rising US dollar and upward revisions to expectations of US interest rate hikes weighed on investor sentiment. Signs of somewhat softer economic... 5th October 2017 · 1 min read
Precious Metals Update Platinum-to-palladium spread turns negative, for now Palladium was in the spotlight yesterday as its price traded at a premium to platinum for the first time in sixteen years. However, unlike platinum, investors’ net-long position in palladium looks... 29th September 2017 · 1 min read
Metals Data Response China and India gold imports (Aug.) The latest trade data for India and China show that imports remained soft in August. We had always believed that demand in India would weaken in Q3 as a result of the implementation of the Goods &... 26th September 2017 · 1 min read
India Economics Update Gold imports likely to ease The strength of gold imports in recent months is the result of temporary issues related to the new GST rather than buoyant underlying demand. As these issues get resolved, we expect gold imports to... 20th September 2017 · 1 min read
