Precious Metals Update What are local premiums telling us about gold demand? Negative gold premiums, the difference between local prices and international benchmarks, in India have prompted fears of a slowdown in consumption from one of the largest market players. While a weak... 16th October 2015 · 1 min read
Industrial Metals Update Precious metals rally as sentiment improves The prices of precious metals (PMs) have rallied since mid-September, as sentiment towards commodities in general improved. While the Fed’s dovishness has been the biggest catalyst for changes in gold... 13th October 2015 · 1 min read
Precious Metals Update South Africa’s strikes to provide further boost to gold price While the Fed has been the biggest driver of gold prices recently, labour tensions in South Africa could provide a further boost. We believe that the gold market is already quite tight after prolonged... 12th October 2015 · 1 min read
Commodities Weekly Further evidence that sentiment is bottoming out We do not expect the future paths to be smooth, but the rallies in commodity prices over the past week are consistent with the relatively positive views we have been expressing for some time. Indeed... 9th October 2015 · 1 min read
Commodities Update The turn is nigh (if it hasn’t already happened) We do not expect the future paths to be smooth, but the rallies in commodity prices over the past week are consistent with the relatively positive views we have been expressing for some time. We are... 9th October 2015 · 1 min read
Metals Data Response South Africa’s Mine Production (Aug.) South Africa PGM production and sales continued to fall in August as low prices are threatening miners’ profitability. We expect production growth to continue to slow over the remainder of the year... 8th October 2015 · 1 min read
Precious Metals Update What’s holding back gold? The price of gold has rallied, helped by the Fed’s reluctance to raise US interest rates, but still looks likely to end the year some way below January’s peak of around $1,300 per ounce. However, gold... 8th October 2015 · 1 min read
Metals Data Response World Gold Official Reserves (Aug.) Global central banks continued to add gold to their reserves in August, with China and Russia once again particularly active. We expect further official purchases to be one of several factors... 7th October 2015 · 1 min read
Precious Metals Update US trade in silver bullion boosted by strong coin demand US imports and exports of silver bullion and doré picked up in July, as government mints across the world struggled to keep up with unexpectedly strong demand for silver coins. In contrast, trade of... 5th October 2015 · 1 min read
Metals Chart Pack VW scandal drives a wedge between PGMs The performance of the major precious metals continued to diverge in September, with the palladium price buoyed by the Volkswagen scandal, while the other precious metals edged lower (before gold... 2nd October 2015 · 1 min read
Metals Chart Pack What do the new COFER data tell us about China’s reserves? China appears to hold a larger than average share of its fx reserves in US dollars, UK pounds and Australian dollars at the expense of euros and the Japanese yen. This is the conclusion we have... 2nd October 2015 · 1 min read
Commodities Focus The impact of China’s rebalancing on demand for commodities The move away from commodity-intensive investment-led growth in China towards a more consumer-driven economy is often cited as sounding the death knell for commodities demand. However, we would argue... 2nd October 2015 · 1 min read
Precious Metals Update Platinum plummets as VW scandal engulfs Audi and Skoda The platinum price is trading close to the lowest level in over six years in response to revelations that Volkswagen (VW) was not alone in cheating on emissions tests for its diesel cars in the US and... 29th September 2015 · 1 min read
Precious Metals Update What does the VW scandal mean for PGMs? Last week, Volkswagen (VW), the biggest European car maker, was engulfed in a scandal for using a hidden software to deceive American regulators when measuring emissions from its diesel-engine cars... 25th September 2015 · 1 min read
Metals Watch India’s new gold schemes not yet a game changer On 10th September the Indian parliament approved the launch of the Gold Monetisation Scheme (GMS) and the Sovereign Gold Bond Scheme (SGBS). The GMS and the SGBS have been introduced in an attempt to... 25th September 2015 · 1 min read
Metals Data Response China’s gold imports (Aug.) Mainland China’s gold imports from Hong Kong continued to rise in August after a strong July. We expect total imports by China and India to pick up substantially in the remainder of the year as low... 24th September 2015 · 1 min read
