GFMS GOLD SURVEY 2012 PDF

The consultancy listed its outlook for the precious metal Wednesday in conjunction with the release of its Gold Survey at events held in London, Johannesburg and Toronto. This was the 46th edition of the report. The report indicated that net world investment fell in but physical investment in the form of bars was strong and central-bank buying continued. Jewelry dipped but only modestly so despite higher gold prices, while mine supply rose. Thomson Reuters GFMS offered some caution about gold prices in the short term, citing some abatement of the eurozone debt crisis and lowered expectations for a third round of quantitative easing in the U. Still, the consultancy said it was bullish for the medium term.

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The consultancy listed its outlook for the precious metal Wednesday in conjunction with the release of its Gold Survey at events held in London, Johannesburg and Toronto. This was the 46th edition of the report. The report indicated that net world investment fell in but physical investment in the form of bars was strong and central-bank buying continued. Jewelry dipped but only modestly so despite higher gold prices, while mine supply rose.

Thomson Reuters GFMS offered some caution about gold prices in the short term, citing some abatement of the eurozone debt crisis and lowered expectations for a third round of quantitative easing in the U.

Still, the consultancy said it was bullish for the medium term. One of the main expected drivers of such a reversal higher would be a resumption of acute fears over European sovereign debt, with Spain likely to be the new principal country of concern, the consultancy said. Both developments are expected to lead to a period of further monetary easing and not just in the industrialized world, the consultancy said, with China, India and Brazil also becoming obliged to adopt additional loosening.

Buyers of gold were looking for…gold in its purest form. This appeared to be driven by concerns such as the euro and inflation, he added. The net growth was the result of trivial sales by signatories to the European Central Bank Gold Agreement, coupled with heavy purchases elsewhere by central banks keen to diversify their dollar reserves, a development likely to lead to more sizeable acquisitions this year, Thomson Reuters GFMS said.

Global scrap supply was 1, metric tons, the consultancy said. Recycling of gold increased in Western nations due to high prices, economic problems and the ease of recycling, the report said. In contrast, scrap from traditionally price-sensitive regions fell due to price acclimatization and bullish sentiment. Mining companies swung from net de-hedging of metric tons in to a modest net hedging total in By Allen Sykora of Kitco News; asykora kitco.

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Metals market research and analysis

For those weighing up the pros and cons of making a Gold Investment this year there were both bullish and bearish signals, writes Ben Traynor at BullionVault. Here are some highlights: Bullish Signals 1. Furthermore, the consultancy expects investment demand for gold to set a fresh all-time high of close to tonnes in Gold Bullion terms. Europe, China, Thailand and the Indian subcontinent all saw growth in physical gold bar investment investors in North America, as Klapwijk pointed out, tend to prefer Gold Coins to Gold Bars.

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Gold to reach $1,800 by year end: GFMS

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