RBC's Gero: Dollar Pressures Gold; Some Signs Of Bargain Hunting
Comex gold continues to languish as the market continues to focus on tariff and trade concerns, with the metal pressured by a strong U.S. dollar, says George Gero, managing director with RBC Wealth Management. “However, there are … small signs of some bargain hunting in gold and some in silver as these are prices near recent lows and not making lower lows,” Gero says. As of 9:27 a.m. EDT, Comex December gold was $1.60 lower to $1,200.60 an ounce.
By Allen Sykora of Kitco News; email@example.com
Metals Focus: Thai Silver-Jewelry Exporters Face Competition From India
Wednesday September 12, 2018 09:45
Thailand’s silver-jewelry exporters are facing increasingly stiff competition from India, says Metals Focus. The consultancy calls Thailand one of the key players in the global gems and jewelry market. While analysts attended the recent Bangkok Gems and Jewelry Fair, Metals Focus says, discussions with exhibitors reveal some trends. “In particular, Thai silver jewelry exporters have faced stiff competition from India over the last few years,” Metals Focus says. “This is especially true concerning silver shipments bound for the U.S., which have fallen from $565 million in 2015 to $505 million in 2017, even though annual average silver prices have risen by around 9% during this time. However, the position seems to have stabilized in 2018, with Thai manufacturers expecting some recovery in exports to the U.S.” Analysts comment that Thailand remains a key supplier of high-end silver jewelry to branded retailers, but is losing out to India on lower-value products. Further, a lack of manpower in Thailand is making it difficult for the trade to find skilled labor, while Indian silver jewelry manufacturers have focused on upgrading technology, skills and introducing newer designs. Indian jewelry exports to the U.S. jumped from $458 million in 2015 to $881 million last year, Metals Focus says. “We believe that, while high-end jewelry manufacturing will continue to flourish in Thailand, Indian silver jewelry manufacturers should continue to make inroads into the U.S. (and also Hong Kong)…,” Metals Focus says.