CPM Group Releases Gold Yearbook 2012
|
|
- Preston Prosper Lynch
- 7 years ago
- Views:
Transcription
1 CPM Group PRESS RELEASE FOR IMMEDIATE RELEASE 3 MARCH 212 CPM Group Releases Gold Yearbook 212 NOTE: Copies of the Gold Yearbook 212 are available for purchase by the general public and are free to the press. These reports may be requested in Acrobat PDF format and/or a printed and bound copy prior to the release time of 4:3 p.m. EDT on 27 March 212, but they are to be treated as embargoed until that release time. Journalists may request reports at press@cpmgroup.com. Journalists may request the report in Acrobat PDF and printed format. New York, NY, 27 March 212. Gold prices continued to rise for the tenth consecutive year, on an annual average basis, during 211. Prices averaged $1,527. during the year, up 27.9% from 21. Gold prices touched a nominal record high settlement price of $1,889.7 on 22 August 211. Prices touched a nominal record high of $1,92.7, on an intraday basis, on 6 September. Over the next 14 trading days gold plunged to $1,532.7, on 26 September. The circumstances that drove gold to these record levels and then led to a 2% decline in three weeks are analyzed and discussed in detail in CPM Group s Gold Yearbook 212, released today. Investor fears over a host of economic, financial, and political problems drove investors to buy large volumes of gold during the first three quarters of last year. By late September there was a palpable shift in investor attitudes. Financial conditions and economic prospective still looked bleak, but it was becoming increasingly evident to investors that even though the global financial system remained under severe strains, the dollar, the euro, the European Central Bank, and major commercial banks perhaps were not going to collapse. Investors stopped buying indiscriminately of prices and became more price sensitive, 3 Broad Street, 37 th Floor Telephone: (212) New York, NY 14 USA Fax: (212) info@cpmgroup.com
2 buying on dips instead of into rallies. Gold prices are forecast to remain at elevated levels during 212, but are unlikely to rise above the record high level reached in 211. Investment demand, the key driver for gold prices, remained at historically high levels last year. Net additions to private investor gold holdings declined to 34.3 million ounces in 211, down 5.8% from 21 levels. Even though net additions to private investor holdings slipped lower in 211, a year in which prices touched a record high, the decline had followed two years of double-digit growth from already high levels of net additions to investor holdings. Many of the major issues that are adversely affecting the global economic environment, such as debt, deficit, and trade imbalances, that have been driving investors to buy gold, driving prices higher, are expected to take years if not decades to be corrected. Investors in emerging market economies, particularly in China and India, continue to buy gold as a form of savings. Low real interest rates and various government restrictions over other investments have helped Chinese investment demand for gold to grow at a double-digit rate since 28. In 211 Chinese investors are estimated to have added more than 4. million ounces of gold to their holdings. Going forward, most investors are expected to hold onto the gold they already own and should seem likely to be interested in adding to their holdings. They are not expected to chase gold prices higher as they have over the past few years, however. Instead investors are expected to add to their holdings on price declines. Net additions to gold holdings over the course of 212 are expected to be flat from levels seen in 211. Such high levels of net additions to investor holdings are expected to keep gold prices at elevated levels. Central banks were net buyers of gold for the fourth consecutive year in 211, adding 12.7 million ounces of the metal to their holdings on a net basis. This was up from the 1.1 million ounces of the metal added to holdings in 21. Gross purchases by central banks have been trending lower over the past three years, 2
3 possibly as a result of rising gold prices, but gross sales have been declining at a faster rate than gross purchases. The trend of central banks buying gold to diversify their monetary reserves away from the U.S. dollar and euro is expected to continue. Newly refined market economy annual gold supply rose to million ounces in 211, marking the fifth consecutive annual increase in gold supply. This.8% year-on-year increase was mostly driven by higher mine production. Annual gold mine output rose for the third consecutive year to 7.4 million ounces in 211, up 2.1% from 68.9 million ounces in 21. Secondary supply of gold rose to 4.6 million ounces in 211, which was up.5% from 4.3 million ounces the previous year. Higher prices boosted scrap sales of gold, but broad consumer expectations for higher gold prices curbed growth. This year s Gold Yearbook contains an in-depth analysis of the shift in global gold mine production over the past decade, with a look at expected growth over the next ten years from the largest gold producing countries today and future significant producers. Gold fabrication demand rose.6% to 72.9 million ounces in 211, slower than the 2.3% growth in 21 due to higher gold prices. Despite higher prices, many consumers sought to purchase more gold jewelry, specifically in developing countries, as a hedge against inflation and form of savings. Developing countries demand for gold in the form of jewelry rose to 5.2 million ounces, up from 49.6 million ounces. Meanwhile developed countries demand for gold jewelry continued to decline, toward 8.4 million ounces in 211 from 8.7 million ounces the previous year, backed by the continued transfer of jewelry manufacturing from these countries to developing countries. CPM Group has been producing annual Yearbooks on gold, silver, and platinum group metals, in a series of reports that began in This year s reports are being published by Euromoney Books and Metal 3
4 Bulletin. This year s reviews have been priced at $15. plus shipping and handling to make them readily available to individual investors as well as institutions, corporations, and governments. The Gold Yearbook 212 is sponsored by Barrick Gold Corporation, Bahrain Financial Exchange, CME Group, Commodities Now, The Electrum Group of Companies, Global Board of Trade Ltd., Institute of Scrap Recycling Industries, Inc., Kitco Metals Inc., Multi Commodity Exchange of India Ltd, New Zealand Mint, Noah Financial Innovation, Pretivm, Primero Mining, Sabin Metal Group of Companies, and the Singapore Mercantile Exchange. CPM Group is an independent commodities research, consulting and investment banking company headquartered in New York. The company is considered the foremost authority on markets for precious metals, and provides detailed and highly regarded research on specialty and base metals, energy, and agricultural markets. CPM Group provides advisory services relating to commodity risk management and asset management as well. The group has produced annual reports on gold and silver since 1971, and annual surveys of the platinum group metals markets since Calendar Silver Yearbook Release and Precious Metals Investment Seminar: Thursday, 17 May 212. Platinum Group Metals Yearbook Release: Tuesday, 26 June 212. Platinum Group Metals Seminar: Wednesday, 19 September 212. For more information, please contact CPM Group. CPM Group s Gold Yearbook 212. Available in printed and/or PDF format. US$15.. Available from CPM Group. 3 Broad St., 37 th Floor. New York, NY 14 Tel Fax: info@cpmgroup.com. The report may be ordered and downloaded online at the CPM Group Store. Click here to view the Gold Yearbook 212 Table of Contents. 4
5 The Price of Gold Monthly Average London PM Fix, Through February 212 $/Ounce 2, 1,8 1,6 1,4 1,2 1, $/Ounce 2, 1,8 1,6 1,4 1,2 1, Investment Demand's Effect on Gold Prices Price Change Through January 212 Million Ounces Net Investment Demand (Left Scale) Percent Change in Price p Percent
Gold Long-Term Outlook
Gold Long-Term Outlook A comprehensive study of the global gold market including projections through 2021 of gold supply by mine and scrap, demand by end-use, and prices. New This Year Dedicated Section
More informationPrecious Metals Ecosystem Dynamics: The Microeconomics of Gold and Silver
ERIK NORLAND, SENIOR ECONOMIST, CME GROUP 9 JUNE 215 Precious Metals Ecosystem Dynamics: The Microeconomics of Gold and Silver All examples in this report are hypothetical interpretations of situations
More informationPrecious Metals Demand Outside of China. Terence Hanlon President, Dillon Gage Metals. LBMA Bullion Market Forum Shanghai, China May 26, 2011
Precious Metals Demand Outside of China Terence Hanlon President, Dillon Gage Metals LBMA Bullion Market Forum Shanghai, China May 26, 2011 I would like to thank Stewart Murray and his colleagues at the
More informationGold: Six Factors to Track In H2 2016
ERIK NORLAND, SENIOR ECONOMIST AND EXECUTIVE DIRECTOR CME GROUP 2 MAY 216 Gold: Six Factors to Track In H2 216 All examples in this report are hypothetical interpretations of situations and are used for
More informationA BEGINNERS GUIDE TO INVESTING IN PRECIOUS METALS
A BEGINNERS GUIDE TO INVESTING IN PRECIOUS METALS FIRST TIME INVESTORS GUIDE Dear Investor Welcome to the ABC Bullion first time investors guide. For thousands of years, people have turned to gold and
More informationQUARTERLY INVESTMENT UPDATE
QUARTERLY INVESTMENT UPDATE December 31, 2015 Quarterly Market Perspectives Global equity markets staged an impressive rally from their late summer swoon across the first two months of the quarter ended
More information141 W. Jackson Blvd. Suite 4002 Chicago, IL 60604 (800) 662-9346 www.hightowerreport.com PRECIOUS METALS COMMENTARY 12/03/14
PRECIOUS METALS COMMENTARY 12/03/14 Vulnerable status as full US report slate to lift the $ OVERNIGHT CHANGES THROUGH 6:05 AM (CT): GOLD +0.40, SILVER -10.10, PLATINUM +1.20 London Gold AM Fix $1,203.25,
More informationDanske Bank May 4th 2016 Economic Update,
Monthly update: 4 May 2016 Danske Bank Chief Economist, Twitter: angela_mcgowan Local job and investment announcements during April 2016: Over the month of April 2016 there were no new job announcements
More informationJOHNSON MATTHEY GROUP
INTERNATIONAL REFINER Supplement 2014 JOHNSON MATTHEY GROUP USA CANADA Johnson Matthey Plc, a specialty chemicals company that focuses on catalysts, precious metals and fine chemicals, has its international
More informationThe following terms govern the offering of precious metals through Gold Bullion International, LLC ("GBI").
Account Opening and Disclosure Agreement The following terms govern the offering of precious metals through Gold Bullion International, LLC ("GBI"). The Investment GBI a New York limited liability company,
More informationThe Beginner s Guide to. Investing in Precious Metals
The Beginner s Guide to Investing in Precious Metals Since the beginning of time, gold and silver have been recognized as valuable and a sign of wealth. Even today, precious metals hold a strong place
More informationThe Strategic Case for Gold AAIN. David Badham, Investment. October 15 th 2012
The Strategic Case for Gold AAIN David Badham, Investment October 15 th 2012 Introducing World Gold Council Funded by the world s leading gold mining companies. We promote the use of gold through marketing
More informationJM&B Monthly Gold & Silver Report August 2005 www.johnson-matthey.ch
JM&B Monthly Gold & Silver Report August 2005 www.johnson-matthey.ch Introduction The purpose of this report is to comment on developments in the gold and silver markets on a monthly basis. For more information
More informationIntroduction to. A Wealth Protection Strategy
Introduction to Investing in Gold A Wealth Protection Strategy To begin a discussion on portfolio diversification with Gold, let s start by examining the reasons investors purchase Gold in the first place.
More informationRAND REFINERY SOUTH AFRICA
INTERNATIONAL REFINER Supplement 2014 RAND REFINERY SOUTH AFRICA LOCATION Rand Refinery, the world s largest single site gold refining and smelting complex, and the largest manufacturer of 400 oz London
More informationCzech Economic Outlook and Prospects for the Exchange Rate Floor
Czech Economic Outlook and Prospects for the Exchange Rate Floor Vladimir Tomsik Vice-Governor Czech National Bank Small Talks Symposium 9 October 2015 Investor Seminar 10 October 2015 IMF/WB Annual Meeting
More informationRhodium Market Outlook
Rhodium Market Outlook A comprehensive study of the global rhodium market including projections through 2018 of rhodium supply by mine, demand by end-use, and prices. September 2009 CPM Group 30 Broad
More informationRevisions to UK GDP and the Balance of Payments current account sourced from the Bank of England
9 September 1 to UK GDP and the Balance of Payments current account sourced from the Bank of England By Lauren Bowers and Katrina Farrell Tel: + () 71 5815, + () 31 131 srdd_quarterly@bankofengland.co.uk
More informationFor your free precious metals investment consultation, ccall Tom Cloud at (800) 247-2812. For the best prices including free shipping and insurance,
With gold and silver prices making new highs over the last several years, many investors are just now beginning to turn their attention to the precious metals markets. Gold and silver can play an important
More informationA Comprehensive Guide to the Gold Price. The American Silver Eagle
A Comprehensive Guide to the Gold Price The American Silver Eagle Table of Contents Introduction... 2 Dimensions and Physical Specifications... 3 Description... 3 United States Mint... 5 Manufacturing
More informationLEE BUSI N ESS SCHOOL UNITED STATES QUARTERLY ECONOMIC FORECAST. U.S. Economic Growth to Accelerate. Chart 1. Growth Rate of U.S.
CENTER FOR BUSINESS & ECONOMIC RESEARCH LEE BUSI N ESS SCHOOL UNITED STATES QUARTERLY ECONOMIC FORECAST O U.S. Economic Growth to Accelerate ver the past few years, U.S. economic activity has remained
More informationARGOR-HERAEUS SA SWITZERLAND
INTERNATIONAL REFINER Supplement 2014 ARGOR-HERAEUS SA SWITZERLAND LOCATION Argor-Heraeus SA, a leading international gold refiner and bar manufacturer, has its headquarters in Mendrisio, about 17 km from
More informationInvestment Attitude in Gold- An Investors Perspective
IOSR Journal Of Humanities And Social Science (IOSR-JHSS) Volume 19, Issue 12, Ver. I (Dec. 2014), PP 32-36 e-issn: 2279-0837, p-issn: 2279-0845. Investment Attitude in Gold- An Investors Perspective 1
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on: 17 October 2013 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1. It is important
More informationCommodities Awareness Programme. Asia. Maycroft
Commodities Awareness Programme Asia Maycroft Training objectives The target audience for this training are the marketing or sales people of the bank. These people have direct contact with (potential)
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on: 19 October 2012 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1. It is important
More informationBullion and Mining Stocks Two Different Investments
BMG ARTICLES Bullion and Mining Stock Two Different Investments 1 Bullion and Mining Stocks Two Different Investments March 2009 M By Nick Barisheff any investors believe their portfolios have exposure
More informationA Presentation on Gold. Gold 1
A Presentation on Gold Gold 1 About Club Kautilya Gold 2 Index Introduction 4 Why to Invest in Gold 5 Factors Influencing the Market 7 Why Gold is a Safe Heaven 9 Investment Vehicle NSEL E-Gold 10 12 Gold
More informationThe U.S. and Midwest Economy in 2016: Implications for Supply Chain Firms
The U.S. and Midwest Economy in 2016: Implications for Supply Chain Firms Rick Mattoon Senior Economist and Economic Advisor Federal Reserve Bank of Chicago Right Place Supply Chain Management Conference
More informationWednesday, December 16, 2015 MAJOR COMMODITIES. News & Development. For Private Circulation Only
Wednesday, December 16, 2015 For Private Circulation Only MAJOR COMMODITIES Commodity Expiry High Low Close Change Commodity Expiry High Low Close ($) Change Gold 5-Feb 25419 25190 25266-81 Gold (Oz) Feb
More informationAny comments and suggestions on the content of the publication are most welcome.
PREFACE The agro-processing industry is among the sectors identified by National Development Plan (NDP, 2011), Industrial Policy Action Plan (IPAP, 2015) and Agricultural Policy Action Plan (APAP, 2015)
More informationOverview. carried interest. Copyright 2014 by Cambridge Associates LLC. All rights reserved.
Overview Cambridge Associates LLC Global ex U.S. Developed and Emerging Markets Private Equity and Venture Capital Benchmark Commentary Quarter Ending September 30, 2013 During the third quarter, in U.S.
More informationNoble DraKoln. metals products Gold Futures vs. Gold ETFs: Understanding the Differences and Opportunities.
metals products Gold Futures vs. Gold ETFs: Understanding the Differences and Opportunities. Noble DraKoln Founder of Speculator Academy and author of Winning the Trading Game and Trade Like a Pro cmegroup.com/metals
More informationRussell Active Manager Report
MAY Surging commodities pose challenge for active managers in : Kathleen Wylie, CFA Head, Canadian Equity Research Russell Investments Canada Limited Kathleen Wylie, Head, Canadian Equity Research for
More informationNon Ferrous Metal & Investment Behaviour: A Hedging Approach
Global Journal of Finance and Management. ISSN 0975-6477 Volume 6, Number 6 (2014), pp. 529-534 Research India Publications http://www.ripublication.com Non Ferrous Metal & Investment Behaviour: A Hedging
More informationSOLAR APPLIED MATERIALS TECHNOLOGY CORPORATION
GOLD BARS Supplement 7/2012 SOLAR APPLIED MATERIALS TECHNOLOGY CORPORATION GOLD BAR MANUFACTURER IN TAIWAN Solar Applied Materials Technology Corporation (Solartech), a leading manufacturer of precious
More informationROYAL CANADIAN MINT GOLD BAR MANUFACTURER IN OTTAWA
GOLD BARS Supplement 6/2012 ROYAL CANADIAN MINT GOLD BAR MANUFACTURER IN OTTAWA The Royal Canadian Mint (RCM), a major gold refiner and bar manufacturer in North America, has its headquarters in Ottawa,
More informationNatural Gas. Fact sheet. Introduction. Natural gas Trading
Natural Gas Fact sheet Introduction Natural gas Trading Natural gas accounts for almost a quarter of United States energy consumption, and the NYMEX Division natural gas futures contract is widely used
More informationTotal Income from Farming in the United Kingdom. First estimate for 2015
28 April 2016 Total Income from Farming in the United Kingdom First estimate for 2015 This release presents the first estimate of Total Income from Farming for the United Kingdom for 2015. Total Income
More informationSouth African Reserve Bank. Statement of the Monetary Policy Committee. Issued by Lesetja Kganyago, Governor of the South African Reserve Bank
South African Reserve Bank PRESS STATEMENT EMBARGO DELIVERY 17 March 2016 Statement of the Monetary Policy Committee Issued by Lesetja Kganyago, Governor of the South African Reserve Bank Since the previous
More informationX. INTERNATIONAL ECONOMIC DEVELOPMENT 1/
1/ X. INTERNATIONAL ECONOMIC DEVELOPMENT 1/ 10.1 Overview of World Economy Latest indicators are increasingly suggesting that the significant contraction in economic activity has come to an end, notably
More informationPositioning Fixed Income for Rising Interest Rates
Positioning Fixed Income for Rising Interest Rates Investment Case: High-Yield Bonds Hedged with U.S. Treasuries Market Vectors Investment Grade Floating Rate ETF Designed to hedge the risk of rising interest
More informationBank of America AAA 10.00% T-Bill +.30% Hypothetical Resources BBB 11.90% T-Bill +.80% Basis point difference 190 50
Swap Agreements INTEREST RATE SWAP AGREEMENTS An interest rate swap is an agreement to exchange interest rate payments on a notional principal amount over a specific period of time. Generally a swap exchanges
More information2013 2014e 2015f. www.economics.gov.nl.ca. Real GDP Growth (%)
The global economy recorded modest growth in 2014. Real GDP rose by 3.4%, however, economic performance varied by country and region (see table). Several regions turned in a lackluster performance. The
More informationSvein Gjedrem: Prospects for the Norwegian economy
Svein Gjedrem: Prospects for the Norwegian economy Speech by Mr Svein Gjedrem, Governor of Norges Bank (Central Bank of Norway), at Sparebank 1 SR-Bank Stavanger, Stavanger, 26 March 2010. The text below
More informationTHE ROSEN MARKET TIMING LETTER
THE ROSEN MARKET TIMING LETTER PRECIOUS METALS - FOREX - STOCK INDICES - COMMODITIES www.deltasociety.com/product/rosen-market-timing-letter RONALD L. ROSEN June 10, 2016 REPORT AND REVIEW GOLD AND SILVER
More informationSTATE STREET INVESTOR CONFIDENCE INDEX SUMMARY
STATE STREET INVESTOR CONFIDENCE INDEX SUMMARY state street investor confidence index Measuring Investor Confidence on a Quantitative Basis The State Street Investor Confidence Index (the index) provides
More informationThe 4 Simplest Ways To Invest In Gold Today
The 4 Simplest Ways To Invest In Gold Today You ve finally found it! Possibly the most useful investment vehicle at your fingertips. I m talking about Gold! There are tons of reasons why investors and
More informationHow to make changes to your annuity income
How to make changes to your annuity income What s inside 2 Is it time to make a change? 3 Your annuity income 5 TIAA Traditional income 7 TIAA and CREF variable income 10 Ways to adjust your annuity income
More informationRhodes Precious Metals Consultancy DMCC Weekly Precious Metals Market Review
Weekly Precious Metals Market Review Indications only open & closing prices are bids data source Thomson Reuters important disclaimer below times are GMT OTC$Market$Data Date 18.Jan.15 Week$Ending$16/01/2015
More informationProfessor Christina Romer. LECTURE 17 MACROECONOMIC VARIABLES AND ISSUES March 17, 2016
Economics 2 Spring 2016 Professor Christina Romer Professor David Romer LECTURE 17 MACROECONOMIC VARIABLES AND ISSUES March 17, 2016 I. MACROECONOMICS VERSUS MICROECONOMICS II. REAL GDP A. Definition B.
More informationOutlook for Australian Property Markets 2010-2012. Perth
Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012
More informationRenminbi Depreciation and the Hong Kong Economy
Thomas Shik Acting Chief Economist thomasshik@hangseng.com Renminbi Depreciation and the Hong Kong Economy If the recent weakness of the renminbi persists, it is likely to have a positive direct impact
More informationContingent Claims: A stock option that is a derivative security whose value is contingent on the price of the stock.
Futures and Options Note 1 Basic Definitions: Derivative Security: A security whose value depends on the worth of other basic underlying variables. E.G. Futures, Options, Forward Contracts, Swaps. A derivative
More informationpercentage points to the overall CPI outcome. Goods price inflation increased to 4,6
South African Reserve Bank Press Statement Embargo on Delivery 28 January 2016 Statement of the Monetary Policy Committee Issued by Lesetja Kganyago, Governor of the South African Reserve Bank Since the
More informationCBOT Precious Metals AN INTRODUCTION TO TRADING CBOT ELECTRONIC GOLD AND SILVER
CBOT Precious Metals AN INTRODUCTION TO TRADING CBOT ELECTRONIC GOLD AND SILVER Introduction The Chicago Board of Trade offers electronic trading on two of the world s most actively traded precious metals
More informationBurberry Group plc. Second Half Trading Update
14 April 2016 Burberry Group plc Second Half Trading Update Highlights for the six months to 31 March 2016 Total revenue 1,410m, down 1% underlying Retail revenue 1,064m, unchanged year-on-year underlying
More information4,000,000 ETNs* Credit Suisse X-Links Monthly Pay 2xLeveraged Mortgage REIT Exchange Traded Notes (ETNs) due July 11, 2036 General
Pricing Supplement No. ETN-19 To the Prospectus Supplement dated May 4, 2015 and the Prospectus dated May 4, 2015 Filed Pursuant to Rule 424(b)(2) Registration Statement Nos. 333-202913 and 333-180300-03
More informationPMI at 48.6% New Orders and Production Contracting Employment Growing Supplier Deliveries Slowing Inventories Contracting
FOR RELEASE: 10:00 A.M. ET December 1, 2015 Contact: Kristina Cahill Report On Business Analyst ISM, ROB/Research Manager Tempe, Arizona 800/888-6276, Ext. 3015 E-mail: kcahill@instituteforsupplymanagement.org
More informationHERAEUS GROUP HERAEUS HOLDING GMBH GERMANY GERMANY HONG KONG USA
INTERNATIONAL REFINER Supplement 2014 HERAEUS GROUP GERMANY HONG KONG USA HERAEUS HOLDING GMBH GERMANY LOCATION Heraeus Precious Metals GmbH & Co. KG, a wholly owned subsidiary of Heraeus Holding GmbH,
More informationINTERIM REPORT, JANUARY-MARCH 2003 5 th May 2003
Boliden reports an improved profit after financial items. The profit totalled SEK 54 million for the first quarter of 2003, compared to SEK 17 million for the first quarter of 2002. The cash flow for the
More informationInvest Trade Hedge COMMODITY MARKET REVIEW 2012
COMMODITY MARKET REVIEW 2012 Invest Trade Hedge Pakistan Mercantile Exchange, 9 th Floor, PRC Towers, 32-A Lalazar Drive, MT Khan Road, Karachi, Pakistan. Despite a disappointing 2011, many commodities
More informationA Comprehensive Guide to the Krugerrand. Table of Contents
Table of Contents Introduction... 2 Dimensions and Physical Specifications... 3 Description... 3 Refining and Minting... 5 Manufacturing... 5 History... 6 Worldwide Markets and Dealers... 8 Krugerrand
More informationPöyry INSIGHT. World Paper Markets up to 2030
Pöyry INSIGHT World Paper Markets up to 2030 Paper market insights through 2030 Since the early 1980s, Pöyry has published global, long-term paper market forecasts regularly. Our new outlook is the 11th
More informationMULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Chatper 34 International Finance - Test Bank MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The currency used to buy imported goods is A) the
More informationExecutive Summary 13. Estimated worldwide annual supply of industrial robots
Executive Summary 13 Executive Summary 1. World Robotics 2015 Industrial Robots 2. World Robotics 2015 Service Robots 1. World Robotics 2015 Industrial Robots 2014: By far the highest volume ever recorded
More informationMain trends in industry in 2014 and thoughts on future developments. (April 2015)
Main trends in industry in 2014 and thoughts on future developments (April 2015) Development of the industrial sector in 2014 After two years of recession, industrial production returned to growth in 2014.
More informationSouth African Reserve Bank. Statement of the Monetary Policy Committee. Issued by Lesetja Kganyago, Governor of the South African Reserve Bank
South African Reserve Bank Press Statement Embargo Delivery 21 July 2016 Statement of the Monetary Policy Committee Issued by Lesetja Kganyago, Governor of the South African Reserve Bank The UK vote to
More informationMULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Study Questions 6 (Foreign Exchange Markets) MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The currency used to buy imported goods is 1) A) the
More informationKAZAKHMYS PLC. 20 June 2011. 6 TH FLOOR CARDINAL PLACE 100 VICTORIA STREET LONDON SW1E 5JL Tel: +44 (0) 20 7901 7800
KAZAKHMYS PLC 6 TH FLOOR CARDINAL PLACE 100 VICTORIA STREET LONDON SW1E 5JL Tel: +44 (0) 20 7901 7800 Company registered in England and Wales Company Number: 5180783 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
More informationInvesting in Precious Metals Just because it shines, doesn t mean it is good. By: Dennis J. Gerschick CFA, CPA, PFS, Attorney
Investing in Precious Metals Just because it shines, doesn t mean it is good By: Dennis J. Gerschick CFA, CPA, PFS, Attorney Dennis J. Gerschick CPA since 1980 Attorney since 1983 CFA since 1990 Has managed
More informationTHE RELATIONSHIP BETWEEN MSCI EMERGING MARKETS INDEX, mini MSCI EMERGING MARKETS INDEX FUTURES AND THE ishares MSCI EMERGING MARKETS ETF
WHITE PAPER THE RELATIONSHIP BETWEEN MSCI EMERGING MARKETS INDEX, mini MSCI EMERGING MARKETS INDEX FUTURES AND THE ishares MSCI EMERGING MARKETS ETF Sponsored by Table of Contents Executive Summary 1 What
More informationCurrent account deficit -10. Private sector Other public* Official reserve assets
Australian Capital Flows and the financial Crisis Introduction For many years, Australia s high level of investment relative to savings has been supported by net foreign capital inflow. This net capital
More informationMonetary Policy Instruments
Monetary Policy Instruments Monetary Operations Strategy Team Financial Markets Operations Group February 2015 Under the inflation targeting framework, the Bank of Thailand (BOT) uses the 1-day bilateral
More informationWhat Drives the Economy? Key Economic Variables
Vegetable Industry Development Program What Drives the Economy? Key Economic Variables This fact sheet provides a brief explanation of four key economic variables, how these variables interact and what
More informationTHE FINANCIAL CRISIS: Is This a REPEAT OF THE 80 S FOR AGRICULTURE? Mike Boehlje and Chris Hurt, Department of Agricultural Economics
THE FINANCIAL CRISIS: Is This a REPEAT OF THE 80 S FOR AGRICULTURE? Mike Boehlje and Chris Hurt, Department of Agricultural Economics The current financial crisis in the capital markets combined with recession
More informationFifty years of Australia s trade
Fifty years of Australia s trade Introduction This edition of Australia s Composition of Trade marks the publication s 50th anniversary. In recognition of this milestone, this article analyses changes
More informationGreatest Investment of the Decade
Greatest Investment of the Decade Silver rallied from a low of $8.40 an ounce in October 2008 to $49.82 in April 2011. That is a whopping +493% gain in a little over two years. After hitting that high
More informationROCK-SOLID WEALTH PROTECTION IN THE PALM OF YOUR HAND
Alternative Wealth Solutions ROCK-SOLID WEALTH PROTECTION IN THE PALM OF YOUR HAND Diamond prices are certainly on a trajectory. Prices of half-carat diamonds have risen by 49 percent since 2001. One-carat
More informationHow does the gold price compare to other macroeconomic indicators?
How does the gold price compare to other macroeconomic indicators? Introductory comments to Session 2 John Gault The following contribution formed part of the Chatham House Gold Taskforce s investigation
More informationPRECIOUS METALS: CONSIDER AS A CORE COMPONENT OF YOUR BALANCED PORTFOLIO
PRECIOUS METALS: CONSIDER AS A CORE COMPONENT OF YOUR BALANCED PORTFOLIO There s more than luster and glamour to Precious Metals. For centuries, Precious Metals have been considered a source of value.
More informationAbstract. What are alternative asset classes?
An Introduction to Alternative Asset Classes Richard D. Landsberg, JD, LLM, MA, CLU, CPM, ChFC, RFC, AIF Director Advanced Consulting Nationwide Financial Abstract Alternative investments, which have been
More informationIntroduction to Metals Futures. Presented by Pete Mulmat and Dan Gramza September 25th, 2014
Introduction to Metals Futures Presented by Pete Mulmat and Dan Gramza September 25th, 2014 Disclaimer Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged
More informationGlobal Markets Update Signature Global Advisors
SIGNATURE GLOBAL ADVISORS MARKETS UPDATE AUGUST 3, 2011 The following comments come from an internal interview with Chief Investment Officer, Eric Bushell. They represent Signature s current market views
More informationABB Q3: Solid performance across the business
ABB Q3: Solid performance across the business Revenues 1 and operational EBITDA 2 higher in all divisions, net income up 10 percent Base orders 3 return to year-on-year growth, large project awards remain
More informationGOLD SILVER PLATINUM PALLADIUM RHODIUM RUTHENIUM IRIDIUM
GOLD SILVER PLATINUM PALLADIUM RHODIUM RUTHENIUM IRIDIUM Global Precious Metals Trading Precious Tradition Bonding wires made of gold In 1856 Wilhelm Carl Heraeus, a pharmacist and chemist, was the first
More informationFINANCIAL MARKETS INTRODUCTION PROGRAMME MODULE 5 FINANCIAL MARKETS
INTRODUCTION PROGRAMME FINANCIAL MARKETS FINANCIAL MARKETS This module contains a synopsis of different types of financial markets and explains the difference between cash and future markets. The module
More informationAdditional information >>> HERE <<< US Dollar Collapse User Review
Additional information >>> HERE
More informationThe current economic situation in Germany. Deutsche Bundesbank Monthly Report February 2015 5
The current economic situation in Germany Deutsche Bundesbank 5 6 Overview Global economy German economy emerging from sluggish phase faster than expected The global economy looks to have expanded in the
More informationNet income up 41% as ABB accelerates top line growth
Net income up 41% as ABB accelerates top line growth Orders up 25% 1 (19% organic 2 ); 18% revenue growth (12% organic) at two-year high Top-line strength and solid business execution lead to higher operational
More informationA Company by Istanbul Gold Refinery (IGR)
A Company by Istanbul Gold Refinery (IGR) HALACH GOLD INC A Company by IGR Halach Gold Inc, headquartered in New York City is a major precious metal trading company of Istanbul Gold Refinery. Ever since
More informationForm SR-4 Foreign Exchange and OTC Derivatives Notes to assist Completion
Form SR-4 Foreign Exchange and OTC Derivatives Notes to assist Completion Section 1 of this return is aimed at establishing the exposure to the risk of loss arising from adverse movements in foreign exchange
More informationIndia s Services Exports
Markus Hyvonen and Hao Wang* Exports of services are an important source of demand for the Indian economy and account for a larger share of output than in most major economies. The importance of India
More informationState of the Economy
State 1 of State the Economy of the Economy June 2016 Office of Ril the - Junt Chief pr Economic f Adviser June 2016 State of the Economy Dr Gary Gillespie Chief Economist 3 June 2016 State of the Economy
More informationThe impact of the falling yen on U.S. import prices
APRIL 2014 VOLUME 3 / NUMBER 7 GLOBAL ECONOMY The impact of the falling yen on U.S. import prices By David Mead and Sharon Royales In the fall of 2012, Japan set forth economic policies aimed at turning
More informationDetermination of the December 2007 Peak in Economic Activity
Page 1 of 6 This report is also available as a PDF file. Determination of the December 2007 Peak in Economic Activity The Business Cycle Dating Committee of the National Bureau of Economic Research met
More informationThis page intentionally left blank
Currency Futures This page intentionally left blank CURRENCY FUTURES Brian Coyle Routledge Taylor & Francis Group LONDON AND NEW YORK First published 2000 by Fitzroy Dearborn Publishers This edition published
More informationWaste Management Announces Fourth Quarter and Full Year 2007 Earnings. Increases Earnings per Diluted Share by 32.6% in Fourth Quarter of 2007
For Further Information: Waste Management, Inc. Analysts: Greg Nikkel - 713.265.1358 Media: Lynn Brown - 713.394.5093 Web site: http://www.wm.com Waste Management Announces Fourth Quarter and Full Year
More informationDeutsche Alternative Asset Allocation VIP
Alternative Deutsche Alternative Asset Allocation VIP All-in-one exposure to alternative asset classes : a key piece in asset allocation Building a portfolio of stocks, bonds and cash has long been recognized
More information