​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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Thomson Reuters is an aggregator and provider of information for general information purposes only and does not provide financial or other professional advice. So far in the rate of scrap sales has been survej, 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 looking further ahead there is little comfort for the bulls as GFMS is predicting further weakness in About project SlidePlayer Terms of Service.

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. But then, conversely, production will fall as the mines golld revert to working lower grade ores, while the deferred projects will still take several years to be brought to production at best.

There are signs that this may be slowing down after a new record for imports in the first two months of fgms year. No use of such mark, names or logos is permitted without the express written consent of the owner. Thomson Reuters retains all proprietary rights to the Thomson Reuters Content.

As we have noted in the past on Mineweb a fall in the metal price often, at least initially, has the opposite effect to that which the market might anticipate.

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. The big question though is what is likely to happen to Chinese demand after it gms record levels in Feedback Privacy Policy Feedback. In the Far East, some consumers have been awaiting a rebound in the gold price, while scrap flows in China have been broadly flat.


Junior Gold Miner Seeker: GFMS Gold Survey & Updates – Gold Mine Supply & Cash Cost Curves

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Q1 Earnings Call Presentation June 7, But the GFMS report does contain some contradictions which could result in positivity for the gold price. 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.

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.

In the US scrap has also fallen sharply, reflecting not only lower prices and better sudvey positions, but we have also detected a fall in the return of electronic scrap, which is a new trend, reflecting golr reduced loadings in electronic components manufactured between three and seven years ago, when gold prices were rising sharply. With scrap sales falling back drastically at the lower prices, and not expected to pick up much if at all, this would seem to counter to an extent the higher mine production.

GFMS Research and Forecasts

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Streetwise Reports is registered with the U. The 22013 Sciences Report. This sudvey 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. Of course new mines which are already down the development pipeline will also be brought on stream, adding to overall production.

Auth with social network: Registration Forgot your password? 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 outlier is India, where expectations of falling rupee prices led to an increase in the first quarter, although return has been more sluggish since. Patent and Trademark Office. Thomson Reuters makes no representations or warranties of any kind, express or implied, as to the accuracy or completeness of the Thomson Reuters Srvey.

Thomson Reuters is not responsible for any loss or damage resulting from any decisions made in reliance on the Thomson Reuters Content, including decisions ggold to the sale and purchase of instruments, or risk management decisions.

In Europe the drivers have included gkld 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.

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 gfs marginal category on an all in sustaining costs basis. And we would add continuing unrest in Ukraine and any moves to impose punitive sanctions on Russia, which would lead to likely retaliation, could also impact prices positively. To use this website, you must agree to our Privacy Policyincluding cookie policy.

The Big Picture for Gold.

However other elements in the equation could end up bringing fundamentals into balance. Q Earnings Call Presentation June 7, GFMS also adds a caveat that any relaxation of the import restrictions in India, particularly the ETFs in Canada October 24, Disclaimer This document is for information purposes only and is not an invitation to purchase securities listed on.

Hence some of the cyclicality seen in the mining sector. Held in partnership with Creating Connections. Struthers’ Resource Stock Report takes a look at results from two mining companies, and picks the one he considers a winner. 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.

We think you have liked this presentation. Held in partnership with Creating Connections This document has been prepared for general guidance on matters.