Friday, May 20, 2016

China goes cold on platinum jewellery, crimping world demand

May 16, 2016 - Reuters with Philip Klapwijk "China goes cold on platinum jewellery, crimping world demand" By Jan Harvey

"It's not as if consumers aren't spending money, but they're not spending it on jewellery in the way they used to," said Philip Klapwijk, director of Hong Kong-based Precious Metals Insights.
"Consumers' discretionary purchasing power is being spent on other things -- white goods, and certainly tourism. More Chinese tourists are going abroad, and that also means during important public holidays, fewer people are visiting department stores."
http://uk.reuters.com/article/uk-platinumweek-jewellery-china-idUKKCN0Y60WQ

Philip Klapwijk managing director of PMI Precious Metals Insights Ltd Gold, silver, platinum and palladium consultants Hong Kong. Email: info@preciousmetalsinsights.com
Website: www.preciousmetalsinsights.com


Tuesday, April 5, 2016

Philip Klapwijk, consultant to Metals Focus, said at a breakfast presentation in Toronto - Is gold headed for a correction? Top consultancies offer up mixed price outlooks for 2016



Is gold headed for a correction? Top consultancies offer up mixed price outlooks for 2016 - March 31, 2016 4:04 PM ET - Peter Koven @peterkoven 

“Clearly, the Fed talk of four interest rate rises this year has been dialed back quite significantly,” Philip Klapwijk, consultant to Metals Focus, said at a breakfast presentation in Toronto.

Klapwijk also noted investors have been very active gold buyers so far in 2016, with ETF holdings rising by a whopping 300 tonnes. As U.S. inflation ticks up, he said institutional investors have concluded gold “is a good thing to stock up on.”


Philip Klapwijk managing director of PMI Precious Metals Insights Ltd Gold, silver, platinum and palladium consultants Hong Kong. Email: info@preciousmetalsinsights.com 

Website: www.preciousmetalsinsights.com

Friday, April 1, 2016

Metals Focus - Gold Focus 2016 launch presentation pdf by Philip Klapwijk




31 March 2016 - Metals Focus - Gold Focus 2016

Philip Klapwijk spoke at the presentation of English Language Edition of the Metals Focus annual Gold Focus 2016 launch in Toronto Canada. Metals Focus launch the Gold Focus every March. This annual ‘glossy’ publication is fast becoming the number one reference source for the global gold market. The Gold Focus provides an in-depth analysis of market developments, including historical data and statistics on gold mine production, costs and consumption (featuring a country-by-country analysis). The Gold Focus also includes a full supply/demand and price outlook for 2016.

To view the PDF of the presentation by Philip Klapwijk at the Metals Focus annual Gold Focus 2016 launch please click here.

Philip Klapwijk managing director of PMI Precious Metals Insights Ltd Gold, silver, platinum and palladium consultants Hong Kong. Email: info@preciousmetalsinsights.com
Website: www.preciousmetalsinsights.com

Saturday, February 6, 2016

LBMA Forecast for 2016




January 2016 LBMA Precious Metals Forecast

Philip Klapwijk - Precious Metals Insights, Hong Kong - LBMA Forecast for 2016.

Au
Range:
$958 - $1,147
Average:
$1,043


The gold price will fall further this year due to tighter  monetary policy in the US, a further rise in the dollar  and unsupportive supply/demand fundamentals.  While it is true that the Federal Reserve will be  cautious in raising rates, it would appear that the  market is now too sanguine regarding the number  of increases likely in calendar 2016 (just two on  average compared to the Fed’s latest consensus  view of four). Higher US interest rates will favour  the dollar, which will also benefit from secular  weakness in the euro and most EM currencies,  including the renminbi. Furthermore, in terms of  gold’s supply/demand fundamentals, the outlook  is not price-supportive. The market is likely to  remain well supplied, with mine production holding  up due to new projects still coming on stream and  cost reductions at existing operations, while scope  for further reductions in scrap supply are limited. Jewellery demand is set to recover this year but only  to a limited extent, in no small measure due to only  modest consumption gains forecast for India and  China. Critically, the price ‘floor’ supported by Asian  physical demand in the form of jewellery and small  bars is again set to move lower. At the same time,  very limited institutional investor gold demand and,  perhaps also, reduced net central bank purchases  of bullion will require yet lower dollar gold prices for  the market to clear.

Pt
Range:
$772 - $948
Average:
$828


Platinum prices are unlikely to recover materially  unless either gold returns to a bull-market  (unlikely before 2017) or mine production is cut  substantially (much talk but little action) or diesel  cars recover their appeal (a hard sell to both  European consumers and governments). Rand  devaluation and the (much larger) slump in oil  prices have given the South African producers some  breathing space. In addition, local political factors  are an obstacle to any rapid, large-scale cuts to  uneconomic operations. Talk of the ‘death of diesel’  is overblown, but diesel’s share of the European  market is expected to slide due to greater concern  over particulate emissions and a shift away from  diesel towards fuel-efficient petrol engines. In the  meantime, in spite of lower prices, global platinum  jewellery demand is expected to remain becalmed  due to relatively little scope for growth this year in  the dominant Chinese market. Overall, the platinum  market is likely therefore to be in rough ‘balance’  this year in terms of supply and fabrication demand.  This might be considered a condition favouring  some upside for the price if it were not for the likely  slide in gold prices and the fact that investors are  expected to remain negative towards platinum  during 2016.
Ag
Range:
$11.96 - $14.89
Average:
$13.19


A further slide in prices is expected in 2016, with silver  tending (as is typically the case) to ‘outperform’ gold  to the downside. Besides facing similar economic and  financial headwinds this year (particularly the stronger  US dollar and soft commodity prices), the white  metal will additionally have to contend with lacklustre  industrial demand (in part due to the slowdown in  Chinese capital investment and construction) and  relatively ‘sticky’ supply from mine production and  recycling. In addition, it is debatable whether the  underlying level of physical demand from India,  investors in bullion products and ETF holders will be  as supportive this year as these were in 2015. More  likely, lower silver prices will be required to stimulate a  continued high level of Indian imports and bullion coin  sales, particularly in light of the huge demand seen  from both sources last year. Against this, it is probable  that outflows from silver ETFs will increase as silver  makes new lows for the bear market to date.
Pd
Range:
$442 - $605
Average:
$492


From a low starting point, palladium is expected  to outperform its peers among the major precious  metals. Currently, the price is discounting a more  negative outcome for the global economy and  auto demand than would seem justified, in large  part due to bad news from China. Specifically  regarding China, while car sales growth has slowed  (to 7% last year), the base is much higher (21.1m  vehicles). Moreover, combating pollution is a  priority and emission controls are becoming tighter.  US auto sales also reached a record level last year  (17.5m units) and the consensus is that in 2016  there should be a further (albeit smaller) increase  in sales. Indeed, global autocatalyst demand  is forecast to increase in 2016 and underpin  an increase in overall palladium fabrication  demand. This will only partly be offset by a small  rise in supply (due to higher recycling) such that  palladium will remain in a substantial fundamental  ‘deficit’. In the short run, this can be swamped  by investor selling (as seen recently), but as such  investors’ sales ease some rebound in palladium  prices is probable basis ‘stronger hands’ holding  remaining bullion stocks and the metal’s healthy  supply/demand fundamentals.

To read full pdf of the 2016 Forecast click here



Philip Klapwijk managing director of PMI Precious Metals Insights Ltd Gold, silver, platinum and palladium consultants Hong Kong. Email: info@preciousmetalsinsights.com

Website: www.preciousmetalsinsights.com

Philip Klapwijk was a speaker at the 10th Annual China Gold & Precious Metals Summit 2015 in Shanghai, China

December 2015 - 10th Annual China Gold & Precious Metals Summit 2015 

Philip Klapwijk was a speaker at the 10th Annual China Gold & Precious Metals Summit 2015 in Shanghai, China.

http://www.chinagoldsummit.com/speakers.php

China Gold & Precious Metals Summit is an annual precious metals gathering jointly endorsed by the China Gold Association and the Shanghai Gold Exchange for miners, refiners, fabricators, dealers, bankers, traders, money managers, analysts, brokers, jewelers, advisors, policy setters to discuss prices, fundamentals, investor sentiment, macroeconomic environment as well as the growth and development of China's gold & precious metals market. In 2015 with China's Silk Road initiative announced and the launch of Shanghai gold benchmark approaching, their implications for the global bullion market coupled with insights on price actions, Fed policy and supply/demand picture etc were highlighted at the conference. 


 Philip Klapwijk managing director of PMI Precious Metals Insights Ltd Gold, silver, platinum and palladium consultants Hong Kong. Email: info@preciousmetalsinsights.com
Website: www.preciousmetalsinsights.com

Wednesday, October 21, 2015

Gold Headed ‘Well Below’ $1,100, But Not Under $1,000 - LBMA - Kitco

Gold Headed ‘Well Below’ $1,100, But Not Under $1,000 - LBMA



http://www.kitco.com/news/video/show/LBMA-2015/1095/2015-10-20/Gold-To-Trade-Well-Below-$1100-But-Not-Under-$1000---LBMAs-Top-Forecaster



Gold To Trade ‘Well Below’ $1,100, But Not Under $1,000 - LBMA’s Top Forecaster

Oct 20, 2015 Guest(s): Philip Klapwijk



Sentiment
toward metals, particularly gold, seems to be bearish these days and an
LBMA six-time forecasting winner says he expects the price to trend
lower in 2016. Philip Klapwijk, managing director of Hong Kong-based
consultancy Precious Metals Insights, said he expects gold prices to
trend ‘well below $1,100’ an ounce. ‘I think gold at the moment is
looking very ‘toppy,’’ he told Kitco News at the London Bullion Market
Association (LBMA) conference in Vienna, Austria. However, despite the
somewhat bearish call, he said he doesn’t expect the metal to trade at
sub-$1,000 levels for too long. ‘That does not mean we can’t get a spike
below but I don’t think we’re going to trade for any extensive period
below that level,’ he noted. In 2014, the LBMA awarded Klapwijk with the
top forecasting title for platinum, which he said should continue to
suffer post the Volkswagen scandal. ‘The reason for that is the very
high market share of diesel in Europe and the damage, I think, will be
done somewhat permanently to diesel’s image in Europe,’ he explained.
Comex December gold futures were last quoted $4.50 higher at $1,177.30
an ounce, while Nymex January platinum futures rose $7.80 to $1,022.40.
Kitco News, October 20, 2015



 Kitco News

Thursday, September 10, 2015

LBMA/LPPM Precious Metals Conference, Vienna 2015

LBMA/LPPM Precious Metals Conference, Vienna 2015


Philip Klapwijk, Managing Director of Precious Metals Insights will be panel member in
the session "Evolution of the Precious Metals Market" at the
LBMA/LPPM Precious Metals Conference 2015 Date:
Sunday, October 18, 2015 to Tuesday, October 20, 2015 Venue:  Hilton Vienna, Vienna.

https://www.eiseverywhere.com/file_uploads/b8b4e6dfa927a87ee18668329833d52f_Email_Masthead2015_NEWADDRESS_01.png

Saturday, May 23, 2015

"Making Sense of Chinese Gold Flows & Gold Demand" Philip Klapwijk MD Precious Metals Insights Ltd Bloomberg Intelligence Agenda 2015

Bloomberg_220515_Klapwijk.pptx - bloomberg_220515_-philip-klapwijk-preciousmetalsinsights-1.pdf

Friday 22 May 2015 Bloomberg Intelligence Agenda 2015


Philip Klapwijk Managing Director of Precious

Metals Insights Limited  was speaking at Bloomberg Intelligence Agenda 2015 in Bloomberg London Headquarters.

To see the slides in pdf format of "Making Sense of Chinese Gold Flows  & Gold Demand" by Philip Klapwijk  MD ofPrecious Metals Insights Ltd click here.

Full audio commentary on the slide from Philip Klapwijk will be uploaded to this blog shortly. Please check back soon. 
Precious Metals Insights Limited PMI gold, silver, platinum and palladium markets consultants, advisers and analysts Hong Kong. Supply & demand analysis, production, consumption and recycling consultancy. Managing director: Philip Klapwijk.
Email: info@preciousmetalsinsights.com
Website: www.preciousmetalsinsights.com







































Thursday, April 30, 2015

Volúmenes de trading flojos en el mercado del oro antes de la Fed Noticias Oro

Volúmenes de trading flojos en el mercado del oro antes de la Fed | Noticias Oro
En cuanto al mercado asiático, Philip Klapwijk, ex director de la
consultora GFMS, "el fortalecimiento del dólar y la subida global de las
bolsas ha empañado el sentimiento del mercado [de metales preciosos]".



Philip Klapwijk managing director of PMI Precious Metals Insights Ltd Gold, silver, platinum and palladium consultants Hong Kong. Email: info@preciousmetalsinsights.com
Website: www.preciousmetalsinsights.com



Comprar oro online | BullionVault



New trade initiatives to spur gold demand Business chinadaily.com.cn

New trade initiatives to spur gold demand|Business|chinadaily.com.cn China's growing interest in gold, however, was the opposite of what has
been happening on the world market, where the price of the medal has
been falling, said Philip Klapwijk, head consultant of Metals Focus, an
independent precious metals consultancy.



Friday, April 10, 2015

Platinum Guild International PGI's Platinum Retail Barometer press release

Platinum Guild International

08 April 2015 - Platinum Guild International PGI's Platinum Retail Barometer. 

Comments by Philip Klapwijk of PMI on China platinum jewelry. Philip Klapwijk from Precious Metal Insights, who supervised the China Barometer, commented: “Plain platinum jewellery is facing headwinds these days in the Chinese market. In contrast, bridal continues to be solid and, most importantly perhaps for the future of demand, gem-set is expanding very strongly, albeit from a still relatively low base.” 


Philip Klapwijk managing director of PMI Precious Metals Insights Ltd Gold, silver, platinum and palladium consultants Hong Kong. Email: info@preciousmetalsinsights.com
Website: www.preciousmetalsinsights.com

Wednesday, April 1, 2015

Gold Focus Canada Gold Focus Presentation Philip Klapwijk Precious Metals Insights 31-03-2015 pdf

Gold-Focus-Presentation-Philip-Klapwijk-Precious-Metals-Insights-2-31-03-2015.pdf

Metals Focus Conference

31 March 2015 - Metals Focus Conference
Gold Focus 2015 Launch in Toronto Canada -
Presentation by Philip Klapwijk of Precious Metals Insights Limited
Hong Kong and Chief Consultant to Metals Focus.


Review of 2014 - Headwinds for Gold: Rates, Equities and
Currencies - Key physical gold markets: China and India - Key Supply
& Demand Factors - Market & Price Outlook for 2015.
Presentation slides by Philip Klapwijk can be viewed in this link.

Precious Metals Insights Limited PMI gold, silver, platinum and palladium markets consultants, advisers and analysts Hong Kong. Supply & demand analysis, production, consumption and recycling consultancy. Managing director: Philip Klapwijk.
Email: info@preciousmetalsinsights.com
Website: www.preciousmetalsinsights.com