Insights

The shine is off the outlook for gold

Panmure Gordon’s latest research report about gold, The Quarterly Nugget, warns that there is now a cautious outlook for gold for the near term, compared to a positive stance in Q1.

The downgrade 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 down from four positive factors 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. Fresnillo was initiated with a Hold.  Other recommendations include Acacia (Hold), Centamin (Buy) and Polymetal International (Buy).

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

Kieron Hodgson

Natural Resources - Mining & Commodities

Simon French

Economics & Strategy