Goldhub blog: Posts from September 2021

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Adam Perlaky
Senior Analyst, Americas
World Gold Council

Yield compression and margin levels raise concerns about market risk

We’ve regularly discussed rates and inflation in 2021 as two key drivers of global markets. With lower expected future returns on fixed income, these drivers give credence to the idea that many institutional investors would need to move further out on the curve (take more risk) and/or use leverage to meet their financial obligations. Both of which now appear to be happening.

Inflation Roundtable

During a virtual round table, in partnership with European Pensions, a panel of industry experts consider the medium and long-term prospects for inflation, its potential impact on portfolios and the hedging tools available for pension funds to prepare for whatever the future may hold.

Adam Webb
Director of Mine Supply
Metals Focus

AISC up 10% year-on-year in Q2’21

Global average All-in Sustaining Costs (AISC) in the gold mining industry increased by 10% y-o-y in Q2’21, reaching US$1,067/oz. This was also the third consecutive quarter in which AISC has risen. This cost inflation is being driven by several factors, both at the mine site and at the macroeconomic level.

Trevor Keel
Consultant
World Gold Council

Gold, healthcare and SDG 3

It’s not just the miners that are having a positive impact on SDG 3, gold itself is a critical material in the healthcare sector. It is used in a large number of diagnostic tools, and is of increasing interest to companies developing innovative new ways to treat disease. These applications often go unnoticed, but are an important part of gold’s story.

Hannah Brandstaetter
ESG Programme Director
World Gold Council

Gold and gold mining’s contribution to SDG 3

 “Our vision is not health for some; it’s not health for most; It’s health for all!“ So said Dr Tedros Adhanom Ghebreyesus, Director-General at the World Health Organisation (WHO) at the United Nations General Assembly 74th Session in September 2019. Given recent events, a continued focus on universal health and well-being has never been as important as it is today.

Krishan Gopaul
Senior Analyst, EMEA
World Gold Council

Central banks maintain interest in gold in July

Today we’ve published our latest central bank statistics which now includes data for July. Central banks added a net 30.1 tonnes (t) to global official gold reserves during the month, virtually in line (+0.3%) with net purchases in June. This continues the healthy level of interest in gold we have seen from central banks so far this year.