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2015-08-30

HSBC PGM & SILVER PRICES SLASHED

  • HSBC says "we are lowering our platinum group metals (PGM) and silver forecasts across the board in light of the China- inspired commodity-wide sell-off"
  • HSBC sees platinum to average $1,126 per ounce in 2015 and $1,235 per ounce in 2016
  • HSBC lowers silver price forecasts for 2015, 2016 to $15.60 per ounce and $16.90 per ounce
  • HSBC lowers palladium price forecasts for 2015 and 2016 to $701 per ounce and $725 per ounce respectively
  • HSBC says, "we have revised our average 2015 and 2016 forecasts to $1,160 per ounce and $1,205 per ounce, respectively" for gold price (on 27 July 2015)

Fed Rate Hike August 31

While China's stock markets seldom reflect the true nature of the economy, the plunge, coupled with Beijing's unexpected currency devaluation in mid-August, has dented confidence in the government and added to fears that the economy may be at risk of slowing more sharply than earlier expected. - Rueters