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
|Published (Last):||12 August 2011|
|PDF File Size:||12.91 Mb|
|ePub File Size:||19.15 Mb|
|Price:||Free* [*Free Regsitration Required]|
Sign-up to receive the newsletter. 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.
GFMS Research and Forecasts
GFMS also adds a caveat that any relaxation of the import restrictions in India, particularly the 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.
ETFs in Canada October 24, Disclaimer This document is for information purposes only and is not an invitation to purchase securities listed on. But the GFMS report does contain some contradictions which could result in positivity for the gold price. But this can all take 2 or 3 years to filter through by which time, the miners hope, prices will have improved again. Thomson Reuters makes no representations or warranties of any kind, express or implied, as to the accuracy or completeness of the Thomson Reuters Content.
However looking further ahead there is little comfort for the bulls as GFMS is predicting further weakness in This year the market is characterised by much slower physical demand, but also a substantial decline in the rate of attrition from the major ETFs. 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 2103 prove to be different.
Auth with social network: Of course new mines which are already down the development pipeline will also be brought on stream, adding to overall production. In the Far East, some consumers have been awaiting a rebound in the gold price, while scrap flows in China have been broadly flat. In the US scrap has also fallen sharply, reflecting not only lower prices and better economic positions, but sruvey 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.
Streetwise Reports is registered with the U.
Junior Gold Miner Seeker: GFMS Gold Survey & Updates – Gold Mine Supply & Cash Cost Curves
Conditions are much calmer this year and indeed the Chinese market in particular has slowed, partly as a result of over-buying last year but partly as the make this reverted to more normal levels, as we shall see in a later slide. The Future golr Mining: 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 Survfy.
Share buttons are a little bit lower. International Speculator, who also discusses his Golden Runway theory of price appreciation and talks about a handful of companies that he believes are on the rise.
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 zurvey in sustaining costs basis.
About project SlidePlayer Terms of Service. Published by Danielle Baggs Modified over 3 years ago.
GFMS GOLD SURVEY 2014 – UPDATE 2
All rights are expressly reserved. 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 surevy impossible to high grade and new projects at the inception stage are deferred. Q1 Earnings Call Presentation June 7, It may seem counter-intuitive that good 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.
Thomson Reuters is not responsible for any loss or damage resulting from any decisions made in reliance on the Thomson Reuters Content, including decisions relating to the sale and purchase of instruments, or risk management decisions.
However other elements in the equation could end up bringing fundamentals into balance. Patent and Trademark Office. There are signs that this may be slowing down after a new record for imports in the first two months of the year.
If you wish to download it, please recommend it to your friends in any social system. Hence some of the cyclicality seen in the mining sector. No use of such mark, names or logos is permitted without the express written consent of the owner. The Thomson Reuters Content may not be reproduced, copied, manipulated, transmitted, distributed suurvey otherwise exploited for any commercial gfmss without the express written consent of Thomson Reuters.
We think you have liked this presentation. Held in partnership with Creating Connections. The big question though is what is likely to happen to Chinese demand after it reached record levels in Registration Forgot your password? The third yold trademarks, service marks, trade names and logos featured in this publication are owned by the relevant third parties or their affiliates.
The outlier is India, where expectations of falling rupee prices led to an increase in the first quarter, although return surve been more sluggish since. With scrap sales falling back drastically at the lower prices, and not expected to pick up much if at all, this would seem to 20013 to an extent the higher mine production. My presentations Profile Feedback Log out. But then, suurvey, production will fall as the mines can revert to working lower grade ores, while the deferred projects will still take several years to be brought to production at best.
Thomson Reuters is an aggregator and provider of information for general information purposes only and does not provide financial or other professional advice.
GFMS GOLD SURVEY – UPDATE 2 – ppt download
As we have noted in the past on Mineweb a aurvey in the metal price often, at least initially, has the opposite effect to that which the market might anticipate. Meanwhile Middle Eastern scrap return is down, reflecting lower prices and despite continued political turmoil, while low price volatility has reduced Turkish scrap return.
The Big Vold for Gold.
The report sees investor appetite as not being strong and that, without this important element returning, the gold price is expected to resume a further downward course in The Way to Play Gold and Silver?