Oil prices revised lower
Lower economic growth leads to slower growth of global oil demand Due to the new escalation of the trade war between the US and China an agreement seems to be further away than ever. The import taxes have a negative
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Tag "commodities"
Gold: Near term correction risk
Gold prices have rallied by 17% this year. On 21 June our year-end forecast of USD 1,400 per ounce was reached and on 5 August our year-end 2020 forecast of USD 1,500 was also reached. We had expected higher gold
A turn in the tide?
Markets at a glance Core government bond yields were sharply lower last week as the US Federal Reserve and Donald Trump gave financial markets much to ponder. On Wednesday, the FOMC reduced interest rates by 25bps, the first move since
Our Monthly Analysis And Outlook On Commodities
As the first half of the year has elapsed, it is time to take stock of the developments within the commodities space. Some key price drivers changed quite dramatically; notably the move of central banks towards dovish monetary policies has
OPEC delivers as expected
OPEC extends its production cut agreement with another nine months As expected, OPEC extended its production cut agreement of 1.2 million barrels per day (mb/d) with another nine months. Together with its partners, led by Russia, OPEC will maintain current
Monthly Commodity Insights
A more negative base view but still neutral on commodity prices We have downgraded our forecasts for global economic growth and we now expect a global monetary easing cycle to take shape, starting in US before too long. The changes
Central banks fuel markets: illusion vs reality
Global Investment Views The journey from market complacency to awareness of fragilities is in full swing, and the market correction in May is part of that, as is the recent recovery fuelled by dovish Central Banks (CB). Aware investors should
Tapping Opportunity in Oil and Gas Infrastructure
M idstream energy infrastructure companies have, in our view, generally emerged from the balance sheet and nancing challenges that had plagued the sector since 2014. With these issues now largely in the rearview mirror, oil and gas master limited partnerships
We remain positive on gold
Precious Metals Watch Technical picture and the prospect of monetary policy easing are positive Trade war uncertainty could dent gold demand from China We keep our year-end forecast at USD 1,400 per ounce
The relevance of gold as a strategic asset
Gold is becoming more mainstream. Since 2001, investment demand for gold worldwide has grown, on average, 15% per year. This has been driven in part by the advent of new ways to access the market, such as physical gold-backed exchange-traded
Trade tensions trouble commodity prices
Monthly Commodity Insights On 10 April the CRB set a top and the index started a modest decline. Since 22 April the decline has accelerated and the index has lost around 5%. The decline of oil prices since 25 April
Grondstoffenstrategie bewijst toegevoegde waarde in institutionele beleggingsportefeuilles
Outperformer bereikt 3-jaars mijlpaal De Achmea IM Grondstoffenstrategie vierde op 31 maart 2019 haar derde verjaardag. De strategie biedt professionele beleggers de mogelijkheid om eenvoudig in grondstoffen te beleggen met als doel: inflatiebescherming en diversificatie aanbrengen in de beleggingsportefeuille. De
Achmea IM Grondstoffenstrategie bewijst toegevoegde waarde in institutionele beleggingsportefeuilles
De Achmea IM Grondstoffenstrategie vierde op 31 maart 2019 haar derde verjaardag. De strategie biedt professionele beleggers de mogelijkheid om eenvoudig in grondstoffen te beleggen met als doel: inflatiebescherming en diversificatie aanbrengen in de beleggingsportefeuille. De strategie heeft momenteel een
Index Dashboard: U.S.
U.S. equities gained steam in April, powered by positive earnings, potential progress in U.S./China trade talks, and recent dovish sentiment from the Fed. The S&P 500®, the S&P MidCap 400® and S&P SmallCap 600® all gained 4%, and the VIX®
Geopolitical poker games
Energy Monitor US ends waivers on Iran sanctions Iran crude exports will drop, but not as far as people may fear Oil prices may gain somewhat, but upside potential is limited
Resurrecting commodity prices?
Monthly Commodity Insights This year the CRB-index has risen by 10%. But over the past month the pace in growth of the index deteriorated slowly. Since mid-March, the CRB-index increased by only 1.4% until now. As we discussed in our
Can the gold industry return to the golden age?
Digging for a solution to the gold mining reserve crisis The gold industry finds itself at an inflection point between the recent era of cost out initiatives and balance sheet deleveraging, and an increasing need to focus on growth and
Monthly Commodity Insights
Trade talk optimism lifts prices, but price gains become smaller We think that in the months ahead, commodity prices will be influenced by the trade deal narrative. Positive news from the talks will lift commodity prices further (such as industrial
Gold in central banks’ asset allocation
Investment insight Blue paper After a long lacklustre period during the 1980s and 1990s, the price of gold has picked up signifi cantly since the new millennium, and central banks, after having steadily reduced their allocation to gold, have resumed
Global Energy Perspective 2019
Reference Case Energy systems around the world are going through rapid transitions that will bring important changes to the way we fuel our cars, heat our homes, and power our industries. These trends will have widespread implications for businesses, governments,
Commodities ― a phoenix rising from the ashes
Commodity Monthly Monitor Following the reopening of the United States (US) Government after its shutdown, this report covers a period of three months. A lot has happened in that time frame. The market has been operating without data from both
Is it time to return to gold and the gold sector?
Conclusion The asset class linked to gold is generally not the most attractive (no returns on metals, company dividends quite small) and is thus often limited to specialists or investors who have experienced serious financial crises and who understand the
Renewed optimism
Market flash Risk assets pushed higher at the beginning of the week as Chinese investors returned to their desks after a week of New Year celebrations. Their upbeat mood was bolstered by indications that Donald Trump might be prepared to
Winners and Losers: The Impact of Shifting Commodity Prices on Emerging Markets
Commodity prices trends are set to reverse Last year, agriculture, industrial metals, and precious metals were the big losers, while energy prices were strong – at least for the first three quarters. This year, however, that trend looks set to
Gold’s precious mettle
Once again, political and economic uncertainty is pushing to the fore gold’s attractions as an investment haven. But this time investors wanting to allocate capital to the precious metal have a better option than just buying bullion bars or futures
Asset Allocation Consensus Augustus
