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CC Holdings Group Market Update
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February 5, 2013
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<span><strong>Bullion Market Commentary</strong></span>
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<span>Gold is currently trading around it’s support of $1673. In</span><span>order to confirm the next bullish run, Gold needs to close above</span><span>$1703. Despite the Chinese New Year, physical demand in Asia is lower</span><span>due to the increase in Gold import duty by the Indian Government.</span><span>Gold’s YTD (year to date) performance is currently 1%.</span>
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<span>Silver has mirrored Gold over the past two weeks. As expected, the</span><span>physical demand for 2013 issue coins has been very strong. The supply</span><span>from the US Mint has now stabilised and Silver Eagles are slowly coming</span><span>back into stock. Silver’s YTD performance is currently 6.2%</span>
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<span>The PGMS (Platinum Group Metals) have been an interesting play.</span><span>Historically, the investment demand for these metals has been very</span><span>thin both in the paper market and for physical. </span><span>Reasons for this are that the availability of physical investment Platinum</span><span>and Palladium has been sporadic and the spreads on small bars are</span><span>typically double those of Gold and Silver bullion. Spreads and market</span><span>depth aside, Platinum has appreciated 23% since July 2012, YTD</span><span>performance is currently 6.75%. Palladium has appreciated 35% since</span><span>July 2012, YTD performance is currently 8%.</span>
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<span>The driving force behind the massive appreciation of the the PGMS is</span><span>the ongoing production issues in South Africa which produces three</span><span>quarters of the worlds Platinum and is the second largest producer of</span><span>Palladium after Russia. Until the labour issues are resolved, it is</span><span>likely that there will be a continued shortage of PGMS in the</span><span>marketplace. It is the confirmed physical shortage of these metals</span><span>that have resulted in the dramatic price increases.</span>
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Headquartered in Switzerland, the CC Holdings Group provides clients with financial services including physical bullion, deliverable foreign exchange, custody and payment services.
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This information is intended to assist investors. The information does not constitute investment advice or an offer to invest or to provide investment services and is subject to correction, completion and amendment without notice.
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