RESOURCES
Gold investment forecast to keep rising
CPM Group cites geopolitical tensions and fears that the bubbling US economic expansion will end in a 2019 recession
New York — Bullion investors, miners and coin makers will help drive the fifth successive annual increase in total global gold investment in 2018, CPM Group said in its Gold Yearbook 2018 on Tuesday, citing geopolitical tensions and fears that the bubbling US economic expansion would end in a 2019 recession. "The changing global monetary policy landscape coupled with [a] long-in-the-tooth growth cycle in the US and little fresh ammunition to bolster the US markets further, means that the US economy looks most at risk of recession," CPM said. CPM forecast net gold investment at 20.3-million ounces during 2018, a 6.6% rise from its 19.1-million ounces in 2017. This would be the highest hike since 2016, when gold investment increased 23.9% to 26.1-million ounces. The independent commodities research company said gold coin demand for bullion produced by private mints would be at 6-million ounces in 2018, up from 5.7-million ounces in 2017 and the highest since 2016. "Market volatility h...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.