Ross, James and Suki returned for a follow-up webinar after the US election to discuss the outcome, how the gold market has reacted, and a wider conversation on the outlook for the gold industry and the wider economy. In summary, the mood was positive for gold; whilst the US fiscal stimulus will likely be less than previously thought, looser US monetary policy remains gold supportive. Real rates should stay low or negative; central bank gold buying will continue but perhaps at a slower pace than before, and now we’re getting some initial positive signs that key physical markets such as China and India are starting to get more comfortable with current prices. ETF buying has slowed down, with selling emerging this month, but expectations for loose Fed policy allay some of those liquidation fears. Ultimately, gold’s path will be heavily determined by the direction of US fiscal stimulus and the Covid vaccination outlook.
Finally, we conducted an audience poll during the webinar and the results reveal a bullish bunch - 39% see gold trading at $2000+ at the end of 2021.
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U.S. Election, Gold & Economic Recovery Shape (Pre-Election)
Ross Norman (Metals Daily), James Steel, (HSBC), and Suki Cooper (Standard Chartered) discuss the possible implications of the upcoming U.S. Election and considered what this could mean for both the gold industry and the shape of the economic recovery.
Why Are Precious Metals On The Move Now With US Investors?
Albert Johnston III (Monex Precious Metals) provides an overview of what is driving the U.S. physical demand for precious metals. John Reade (WGC) looked at the ETF side of U.S. investor demand and what has driven the 2020 record breaking gold ETF holdings.
Precious Metals Market Update
This webinar tied in with LBMA’s launch of our 2021 Precious Metals Forecast Survey. Double-digit price rises are forecasted for all four metals against 2020 actual average prices, but only modest gains are expected from early January 2021 levels.
Gold in 2020 - Key Drivers and Outlook
Ross Norman (Metals Daily), Bernard Dahdah (Natixis), James Steel (HSBC) and Nikos Kavalis (Metals Focus) discussed the key drivers likely to impact gold prices, what direction prices are heading, how the markets are coping and how they have adapted to this most difficult of years.