Featured Report
Investment Update: The Case for Gold in UK DB Pension Schemes
With the rapid growth in funding ratios over the past two years, an increasing number of UK defined benefit (DB) pension schemes have been contemplating their investment approach for the endgame – the point at which a plan moves from being underfunded to being fully funded or even having a surplus.
This transition has a number of investment implications. In this paper, we examine how pension schemes can seek to maintain the ground they’ve gained over the recent past, as one of the driving forces behind the rise in interest rates and improved funding status – inflation – has become a source of asset price volatility.
2023 Chinese jewellery market insights: Gold continues to lead the market
As Chinese jewellery retailers shook off the pandemic, many strode into 2023 with strong expectations. But the recovery has been bumpy. In the face of economic uncertainties and the record-level renminbi (RMB) gold price, understanding current trends and future possibilities is fundamental to jewellers’ businesses.
The relevance of gold for Australian Self-Managed Super Funds
Gold, in Australian dollars (AUD), delivered positive returns in 2022 and this has continued so far in 2023. It has attracted attention: not only have global central banks continued to buy gold, but Australia’s sovereign wealth fund has also added gold to its portfolio.
2022 Chinese gold jewellery market insights
The notable rebound in Q3 Chinese gold jewellery demand from the COVID-stricken Q2 and easing COVID restrictions paints a bright picture for the future. And our third annual gold jewellery retailer survey with China Gold News suggest that opportunities abound.
Gold Outlook 2023: The global economy at a crossroads
The global economy is at an inflection point after being hit by various shocks over the past year. The biggest was induced by central banks as they stepped up their aggressive fight against inflation.
Outflows slowed in October, but holdings now down y-t-d
Global gold ETFs saw a net outflow of 59t (US$3bn) in October, the sixth straight month of declines in holdings. In October, y-t-d changes in gold ETF holdings turned negative for the first time in 2022, now 1% lower on the year
More gold ETF outflows in September as gold remained under pressure
Global gold ETFs posted their fifth consecutive month of net outflows in September as holdings dropped by a further 95t (US$5bn). This is also the largest monthly outflow since March 2021 (107t).
Jewellery market structure: India gold market series
India’s gold market is steeped in tradition and still highly fragmented. However, over the last few years the industry has become more organised and regulated.
Gold ETF outflows continue for a fourth straight month on dollar strength
Global gold ETFs registered outflows of 51t (US$2.9bn, 1.4%) in August, in line with price performance. This was the fourth consecutive month of outflows. Funds have now given back two-thirds of the inflows accumulated through April; y-t-d global inflows are 102t (US$7.5bn), with total holdings at 3,651t (US$202bn), up 3.6% on the year.
Strong gold ETF outflows in July, driven by a weaker gold price and momentum
Global gold ETFs registered outflows of 81t (-US$4.5bn) in July. This was the third consecutive month of outflows and the worst since March 2021. A stronger US dollar and COMEX net long positioning – the lowest since April 2019 – helped push the gold price down through the US$1,800/oz support level.
