Outlook for gold remains cautious

Panmure Gordon’s latest research report about gold, The Quarterly Nugget, retained its negative outlook for gold and gold equities.

The outlook is due to Panmure Gordon’s proprietary five-factor model used by Kieron Hodgson, Commodities analyst, and Simon French, Chief Economist, which has three of five factors indicating a negative outlook for gold. That’s the same as in Q1.

The five factors are:

  • Economic uncertainty
  • Global inflation
  • US dollar
  • Trading & technical indicators
  • Central banks

The report also discussed four gold related companies. Recommendations include Centamin (downgraded to Hold) and Polymetal International (remaining a Buy), with no recommendation changes for Acacia or Fresnillo.

For more information, please contact Kieron Hodgson or Simon French.

Kieron Hodgson

Natural Resources - Mining & Commodities

Simon French

Economics & Strategy