The Conversation (0)
According to Mineweb, Metals Focus says that the bear market for gold could come to an end in 2015. While most analyst reports saw India coming out on top in terms of gold demand – for example, Thomson Reuters GFMS and the World Gold Council – Metals Focus saw China as the leader for gold demand.
According to Mineweb, Metals Focus says that the bear market for gold could come to an end in 2015. While most analyst reports saw India coming out on top in terms of gold demand – for example, Thomson Reuters GFMS and the World Gold Council – Metals Focus saw China as the leader for gold demand.
As quoted in the publication:
We were perhaps expecting Metals Focus to come up with somewhat similar figures in its report an analysis, largely because it uses much the same methodology as GFMS – indeed many of its leading lights came to it from GFMS, while its key China analyst used to work for the World Gold Council. But, we are happy to say that the Metals Focus analysis does come up with Chinese demand in 2014 as being comfortably over 1,000 tonnes, and well in excess of that of India.
Perhaps the main thing to take away from the report and analysis is that the consultancy now sees it likely that 2015 should see the end of the gold bear market. It expects that there could be further interim disappointment for gold investors as it expects gold perhaps to fall further- perhaps as low as around $1,080 in Q3, with the start of Fed interest rate rises, but once the markets have adjusted for this it anticipates the gold price rising again in Q4, averaging over $1,200 for that quarter and ending the year around $1,270, with the stated implication that the yellow metal will see more meaningful gains in 2016.
Click here to read the full article.
