goldsurvey20xxpresentation20xx全球黃金市場調(diào)研-wenkub
2022-08-19 09:56:09 本頁面
【正文】 mines. Strong country gains in Indonesia, China, Russia, Argentina, Brazil and Mexico. All regions posted growth, except for North America. Two largest falls at the mine level were seen in the United States. US dollar denominated total cash costs increased by an average 3%, or $14/oz, to $478/oz in 2022. GFMS’ proprietary ‘AllIn’ Costs measure increased by % to $717/oz. AboveGround Stocks of Gold, end2022 Aboveground Stocks, end 2022 = 166,000t Gold is not “consumed” like most modities。 Thomson Reuters Euro Gold Price Weekly Averages Euro/oz EURO Average IntraYear YearonYear 2022 % % 2022 % % Q1 2022 % % 26week moving average Source: GFMS。 Palladium and Copper Surveys. Also, weekly, monthly, quarterly amp。 biannual reports plus forecasts and a wide range of consultancy services across all the precious and base metals amp。 Thomson Reuters Euro/kg US$/oz Rupee 10g/g Gold Prices in Different Currencies Indexed Daily Series Source: GFMS。 stocks can be available at the right price… Source: GFMS (Gold Survey 2022) Supply from Scrap, Hedging amp。 G233。 nonreportable positions in futures taken as proxy for investors? positions. Source: CFTC Investors? positions in gold futures in 2022 (nonmercial amp。 Medals Source: GFMS (Gold Survey 2022) ? Jewellery Demand in 2022 ? ? ? ? In spite of a reasonable first quarter, for full year 2022 jewellery demand will recover only modestly, due to higher prices and constrained budgets, especially in light of continued economic weakness in many countries. Concentrated buying expected on price dips. Other fabrication set to recover in 2022, due to growth in the electronics sector. Prospects for further dehedging are limited by the now very low outstanding producer hedgebook. Investor interest in gold is expected to remain strong throughout this year and potentially well into 2022. Investment in 2022? Backdrop for investment in 2022 will remain positive as long as: Zero to negative real short term interest rates continue in all major currencies. Concerns over sovereign debt increase and crisis spreads from Europe to United States. Inflation expectations grow, especially in the US with its expected $ trillion FY 2022 deficit and probable debt moization. Notwithstanding the above, risk may be growing of shortterm and temporary selloff by investors if fears of ?doubledip? trigger liquidations across all ?risky assets?. Longerterm, gold price vulnerability is rising due to investment?s exceptionally high share of demand and the increasing size of investors? nearmarket bullion stocks. World Investment* amp。 *the sum of implied, investment, bar hoarding, all coins 。 the mid $1,000s are a possible low over the next three months, with prices in that region most likely to be eventually pushed up again by bargain hunting and stock replen
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