Posts about GFMS Gold Survey written by RyanPomy. The estimates shown in the GFMS Gold Survey for the main .. to reach 1, tonnes, the highest since , at a notional dollar value of. THIS WEEK saw the launch of ‘Gold Survey ‘ by Thomson Reuters GFMS, the world’s foremost research firm focusing on precious metals.
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Rising mine supply contributes to what GFMS terms the gold market “surplus” — the difference between combined mining and scrap supply and fabrication demand jewelry plus industrial uses. Hedging activity by miners can now only be a source of supply. Most of the de-hedging — which contributed to the demand side — appears to have been done.
Gold Investment in 2012: The Bullish and Bearish Signals
One attendee at the launch asked whether there might be a case for saying many western investors are now overinvested in gold. Scrap supply appears to be flat On a global level, scrap supply fell by around 50 tonnes — equivalent to almost two thirds of the year’s Gold Mining production growth. All articles published here are to inform your thinking, not lead it.
GFMS GOLD SURVEY 2012 – Gold seen hitting $2,000/oz by year-end
A key driver of Gold Investment, says GFMS, is likely to be ongoing loose monetary policies adopted by the world’s central banks. Last year saw an annual gain of 2. Here are some highlights: Gold buying ‘cautious’ again. Gold Mining supply is expected to continue growing this year. Thinking of investing in gold?
For those weighing up the gtms and cons of making a Gold Investment this year there were both bullish and bearish signals, writes Ben Traynor at BullionVault. Hedging activity by miners can now only be a source of supply For much of the s and s, gold miners would hedge their price risk by selling future production forward to lock in the current price, adding to current supply and putting downwards pressure on the Gold price.
Money Observer 6 August GFMS estimates that this leaves a “surplus” of gold supply equivalent to around tonnes. A lot of Gold Investment is required just to maintain current prices.
Europe, China, Thailand and the Indian subcontinent all saw growth in physical gold bar investment investors in North America, as Klapwijk pointed out, tend to prefer Gold Coins to Gold Bars.
Klapwijk noted, however, the most of the hedging seen last year appeared to be related to specific mining projects, adding that there seemed little gokd for strategic hedging against a fall in Gold Prices. A Cambridge economics graduate, he is a professional writer and editor with a specialist interest in monetary economics.
For much of the s and s, gold miners would hedge their price risk by selling future gole forward to lock in the current price, adding to current supply and putting downwards pressure on the Gold price. BullionVault cookies and third-party cookies. Several BRIC countries — specifically Brazil, India and China — are also likely to loosen monetary policy, which would be bullish for gold.
Learn about gfsm bullion coins and costs. Many of the factors expected to fuel investor interest this year — low or negative real interest rates and shaky equity markets — were present last year, Thomson Reuters GFMS said. Portfolio Adviser 19 October The dynamics behind most Gold Investment will continue to gffms out well beyond the end of this year.
Jewelry consumption however “is still expected to remain above ‘s historically depressed level” says GFMS.
He also pointed out that institutions such as pension funds and sovereign wealth funds — where Gold Investment remains relatively rare — could still offer some scope for growth.
Physical Gold Investment demand continued to be strong last year Investment demand for physical gold saw “an excellent performance” last year, Klapwijk told the audience at the London launch of ‘Gold Survey ‘.
Mine production rose for the third consecutive year, up three percent, while producer hedging swung to a small positive position last year from net dehedging of tonnes in We use these cookies to record your site preferences currency, weight units, markets, referrer, etc.
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Signatories to the Central Bank Gold Agreement have made what GFMS calls “trivial sales” in recent years, while emerging market central banks have been Buying Gold in significant quantities. With Gold Prices rising, producers began to de-hedge, buying back positions and thus contributing to gold demand.
Latest gold news by email. Any cookies already dropped will be deleted at the end of your browsing session. GFMS points out there was a “secular increase” in supply from scrap, producer hedging and official central bank sales between and — a factor which it reckons contributed to the lackluster Gold Price during that period. On a global level, scrap supply fell by around 50 tonnes — equivalent to almost two thirds of the year’s Gold Mining production growth.
GFMS Gold Survey | Scratch Blog
A lot of Gold Investment is required just to maintain current prices Rising mine supply contributes to what GFMS terms the gold market “surplus” — the difference between combined mining and scrap supply and fabrication demand jewelry plus industrial uses. Daily news email Go to ‘communications settings’. Klapwijk agreed such a case could be argued, and that many wealth investors interested in gold have probably already built their positions. Measured as the total outstanding forwards and loans, plus gold options positions weighted according to their sensitivity to movements in Gold Futures i.
By contrast, supply from these sources has been flat sincedespite a sharp jump in scrap supplies at the onset of the financial crisis.