In the Press
The World Gold Council (WGC) has released a report highlighting the fact that the cost of production of gold could be on the rise. Adam Webb who is Director of Mine Supply at Metals Focus notes costs in the gold mining industry increased for the second consecutive quarter in Q1 2021, with the global average All-in Sustaining Cost (AISC) up by 5% q/q to $1,048/oz, reaching its highest level since Q2 2013.
Costs in the gold mining industry increased for the second consecutive quarter in Q1’21, with the global average All-in Sustaining Cost (AISC) up by 5% q-o-q to US$1,048/oz, reaching its highest level since Q2’13. Adam Webb on Gold Hub for the World Gold Council.
As London-based precious metals focused consultancy, Metals Focus reports in its 108-page long Gold Focus 2021 report, global gold mine production in 2020 fell for the second consecutive year, declining by 119 tonnes year on year(3%) to 3,478 tonnes.
‘We have seen the dollar strengthen and that is bad news for gold over the short-term. But there would be inflation concerns and so the case for gold for the foreseeable future is still relatively strong’, Philip Newman MD of Metals Focus told CNBC-TV18.
Harshal Barot discussing the implications of the latest Fed meeting on the gold market with CNBC Hindi
Tuesday, Metals Focus published its annual Gold Focus report for 2021, and the analysts see a more tempered outlook for the precious metal as uncertainty over the global COVID-19 pandemic continues to ease. Kitco News.
LONDON, June 15 (Reuters) – Demand for gold from jewellers and central banks will recover in 2021 but remain below pre-pandemic levels, while buying of bullion by exchange traded funds (ETFs) will fall sharply, consultants Metals Focus said on Tuesday.
On the physical front, consultants Metals Focus said decreased buying of bullion by exchange traded funds could limit gold demand this year. Reuters.
Chirag Sheth in discussion on CNBC TV18
Demand for gold from jewelers and central banks will rebound in 2021, but will remain below pre-pandemic levels as bullion purchases by publicly traded funds (ETF) will fall sharply, consultancy Metals Focus said on Tuesday. Explica.co
Chirag Sheth interview on Zee Business
Philly sees a spike in catalytic converter thefts. The auto part has metals worth more than gold. The Philadelphia Inquirer
“In the rhodium market, if something happens to impact South African mining, then it does definitely have a far larger impact on supply and demand dynamics,” said Wilma Swarts, director of platinum group metals at the London-based research consulting firm Metals Focus.
Wilma Swarts, an analyst at Metals Focus, expects global demand for palladium in car catalysts is likely to fall to 7.8m ounces this year from 8.8m ounces last year.
Chirag Sheth of Metals Focus said India consumes about 8% of World Industrial Silver demand making it the 4th largest industrial market globally
Chirag Sheth comments to S&P Global Market Intelligence
Chirag Sheth on CNBC AWAAZ