GFMS Surveys and Updates are now available on Thomson Reuters Eikon Gold Survey Q3 Update & Outlook (November ) Now Available; LME Gold Survey Update 2; Copper Survey Update; Gold Survey . Thomson Reuters GFMS launched Gold Survey at events in London and Johannesburg. The following details some highlights from the. GFMS puts new mine production of gold at a record tonnes, a 6% gain over
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Another factor which may at least give the gold bulls some heart is the estimate that in demand for gold for jewellery fabrication and general bar and coin investment demand will likely exceed the total of new mine production plus scrap. We think you have liked this presentation.
GFMS GOLD SURVEY – UPDATE 2 – ppt download
In Europe the drivers have included the tightening regulations over scrap return, which have raised costs, while distress selling has also largely abated and here, too, near-market stocks have been depleted. Thomson Gfns is an aggregator and provider of information for general information purposes only and does not provide financial or other professional advice.
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So far in the rate of scrap sales has been slow, reflecting reduced jewellery sales This is not only the case in price-sensitive Asia, where material is of high caratage and readily mobilised, but also in Europe and to a lesser extent the United States. However other elements in the equation could end up bringing fundamentals into balance.
All rights are expressly reserved. Thus new mined gold output may not fall back even in the current year should gold prices stay at or around current levels which put many even large gold mining operations into the marginal category on an all in sustaining costs basis. ETFs in Canada October 24, Disclaimer This document is for information purposes only and is not an invitation to purchase securities listed on.
This year the market is characterised by much slower physical demand, but also a substantial decline in the rate of surevy from the major ETFs. Struthers’ Surbey Stock Report takes a look at results from two mining companies, and picks the one he considers a winner.
GFMS also adds a caveat that any relaxation of the import restrictions in India, particularly the This can only go on for so long though and ultimately low prices do filter down to force production cuts as continually uneconomic operations are closed down, older mines find it impossible to high grade and new projects at the inception stage are deferred. Q1 Earnings Call Presentation June 7, In the Far East, some consumers have been awaiting a rebound in the gold price, while scrap flows goold China have been broadly flat.
Latest GFMS Gold Survey Reports Record Gold Production
However looking further ahead there is little comfort for the bulls as GFMS is predicting further weakness in The Big Picture for Gold. Thomson Reuters is not responsible for any loss or damage resulting from any decisions made in reliance on the Thomson Reuters Content, including eurvey relating to the sale and purchase of instruments, or risk management decisions.
To make this website work, we log user data and share it with processors. Conditions are much calmer this year and indeed the Chinese market in particular has slowed, partly as a yold of over-buying last year but partly as the make this reverted to more normal levels, as we shall see in a later slide. Published by Danielle Baggs Modified over 3 years ago. Thomson Reuters retains all proprietary rights to zurvey Thomson Reuters Content.
GFMS GOLD SURVEY 2014 – UPDATE 2
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Of course new mines which are already down the development pipeline will also be brought on stream, adding to overall production. The outlier is India, where expectations of falling rupee prices led to an increase in the first quarter, although return has been more sluggish since. Thomson Reuters makes no representations or warranties of any kind, express or implied, as to the accuracy or completeness of the Thomson Reuters Content.
But if sales out of gold ETFs fall away this year, or even turn around to purchases as they have done to date then matters could yet prove to be different. But then, conversely, production will fall as gffms mines can revert to working lower grade ores, while the deferred projects will still take several years to be brought to production at best.
GFMS Research and Forecasts
But the GFMS report does contain some contradictions which could result in positivity for the gold price. The Way to Play Gold and Silver? Hence some of the cyclicality seen in the mining sector.
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The Life Sciences Report. Sign-up to receive the newsletter. But this can all take 2 or 3 years to filter through by which time, the miners hope, prices will have improved again.
In the US scrap has also fallen sharply, reflecting not only lower prices and better economic positions, but we have also detected a fall in the return of electronic scrap, which is a new trend, reflecting the reduced loadings in electronic components manufactured between three and seven years ago, when gold prices were rising sharply.
The big question though is what is likely to happen to Chinese demand after it reached record levels in It may seem counter-intuitive that the physical market was in a surplus last year give the strength of physical demand, but this was a function of the level of ETF selling and a drawdown of inventory on COMEX in particular.