In the Press

Gold prices settle at 2-month high, buoyed by inflation worries

In a weekly report Wednesday, Metals Focus said it expects total platinum group metals demand to grow by 11% to top 12.8 million ounces this year — 1.2 million ounces more than 2021. It expects an improvement in automotive manufacturing as well as tighter emissions legislation in major markets, to drive that growth in demand. By Myra P. Saefong and Mark DeCambre for Market Watch

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Mining News Global platinum group metals autocatalyst demand to hit record levels in 2022 – report

According to Metals Focus, a growing global automotive sector has driven combined autocatalyst demand for platinum, palladium and rhodium (PGM), which rose by 5% in 2021 and expected to hit record levels in 2022. The consultancy said that the total PGM demand is expected to grow 11% breaching 12.8Moz in 2022. “This is 1.2Moz more than 2021 and 200koz higher than pre-pandemic levels, despite expectations that vehicle numbers will still be lower than in 2019,” the authors of the report noted. By Vladimir Basov for Kitco News

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Palladium Outlook 2022: Auto Demand to Determine Price Movement

With supply growing, prices were impacted by softening demand throughout H2 2021, particularly in the automotive industry. “The biggest factor that impacted palladium demand this year is the protracted and deepening chip shortage,” said Wilma Swarts, director of platinum-group metals at Metals Focus, in December. “Vehicle production forecasts for 2021 were cut by around 10 million vehicles from the start of the year until now.” By Georgia Williams for Investing News

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Burgeoning green economy may lead to a structural silver deficit – report

Metals Focus reported today that silver will play a crucial role in a burgeoning green economy and that rising demand has already put silver market into a physical deficit, which has a strong likelihood of becoming structural. According to a report, the star of silver use in the green economy over the last decade has been photovoltaics (PV), with PV installations have grown massively over the last decade, up from a modest 16GW in 2010 to 158GW in 2021. By Vladimir Basov for Kitco News

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Platinum Outlook 2022: Rising Demand to Offset Supply Surplus

“A bigger surplus in the platinum market this year (2021) also offers little comfort, itself the result of a recovery in South African mine output along with weaker than expected growth in autocatalyst demand, due to chip shortages and other supply chain disruptions,” Metals Focus states in a market report. By Georgia Williams for Investing News

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Commodity Corner: Gold should remain strong for 3-4 months

Chirag Sheth, Senior Research Consultant at Metals Focus discusses with CNBC-TV18’s Manisha Gupta outlook for precious metals in 2022. On gold prices, Sheth said, “We believe that in the near term, probably over the next three to four months and gold prices should remain strong, we could again see prices moving up to $1,900.” By Manisha Gupta for CNBC TV18

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Gold and silver demand in India sees strong recovery in H2 2021; next year will be even better – report

Gold and silver demand in India recovered sharply in the second half of 2021 as jewelry purchases and investment in physical metal surged following a downturn caused by COVID-19 restrictions and uncertainty. This was reported by Metals Focus, a leading independent precious metals consultancy, on the heels of a trip by its local team to more than ten cities in India to assess the situation on the ground, which revealed robust demand for gold and silver. By Vladimir Basov for Kitco News

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Palladium Is Poised for a Rebound After Being 2021’s Worst Metal

There are better days coming soon for palladium as Chinese purchases pick up and supply chain problems eventually ease, according to Nikos Kavalis, managing director at Metals Focus. “We therefore expect a big rebound in demand, which should also be augmented by stock replenishment in China after a year of extremely low imports,” he said. “The market will move back into deficit in the second half of next year, driving prices up.” By Ranjeetha Pakiam and Yvonne Yue Li for Bloomberg

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Wedding rush sets record, sends India’s gold imports surging to 6-year high

“Lower prices and pent up demand has helped boost sales, but we are also seeing a lot of weddings this year with some estimates suggesting that we could have a record number,” said Chirag Sheth, a Mumbai-based consultant with Metals Focus. “What has happened in the past year and a half has revived people’s faith in gold.” By Swansy Afonso for Business Standard

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Gold Outlook 2022: Consolidation a Launching Pad for Price Rise

Adam Webb, director of mine supply at Metals Focus, echoed this forecast, noting a small quarter-over-quarter decline between Q3 and Q4 2021. “We expect gold output to remain relatively high in Q4 2021, but drop quarter-on-quarter,” he said. “This will largely be a result of the seasonality of production in Russia, which usually declines in the winter months.” By Georgia Williams for Investing News

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Silver Outlook 2022: Supply/Demand Trends Could Catalyze Price

Inflation will also impact the sector’s supply side, as Adam Webb, director of mine supply at Metals Focus, pointed out. “As with gold miners, inflation will push costs up for silver miners,” he said. “However, silver mines often produce significant quantities of by-product metals, usually zinc, lead and gold.” By Georgia Williams for Investing News

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Silver Trends 2021: Demand Grows as Supply Shrinks

Silver’s relation to gold and ties to the base metals sector helped it rally to a year-to-date high in Q2. “After touching a four-month low of US$23.78 at the end of March, silver began to recover, reaching a three-month high of US$28.90 by mid-May, as support emerged from a weaker dollar and from the slide in yields over much of this period,” the annual “Precious Metals Investment Focus” report from Metals Focus reads. By Georgia Williams for Investing News

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European Markets Gold gains as dollar, yields ease; U.S. CPI data in focus

“If inflation continues to come out strong, that would cement expectations for the start of rate hikes by mid-2022. But the gold market has largely priced such rate hikes, so gold’s decline should be temporary and limited,” said Harshal Barot, a senior research consultant for South Asia at Metals Focus. By Nakul Iyer for Reuters

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Silver – The Forgotten Precious Metal

“The recovery in silver industrial demand from the pandemic will see this segment achieve a new high of 524 million ounces (Moz). In terms of some of the key segments, we estimate that photovoltaic demand will rise by 13% to over 110 Moz, a new high and highlighting silver’s key role in the green economy,” said analysts at Metals Focus, who conducted the latest research on behalf of the Silver Institute. By Glenn Dyer for Sharecafe.com

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