JEWELLERY SESSION – SETTING THE SCENE

LBMA/LPPM Precious Metals Conference 2012
13 November 2012
JEWELLERY SESSION – SETTING THE SCENE
.
PHILIP KLAPWIJK
GLOBAL HEAD OF METALS ANALYTICS
LONDON BULLION MARKET ASSOCIATION ANNUAL CONFERENCE
HONG KONG, 13th NOVEMBER 2012
GOLD JEWELLERY DEMAND VS. WORLD INVESTMENT*
(ANNUAL % SHARE OF TOTAL DEMAND)
80
Share of total demand in %
70
Jewellery
60
50
40
World Investment
30
20
10
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011 2012F
*World Investment is the sum of Implied Net Investment, Physical Bar Investment and all Coins & Medals
Source: Thomson Reuters GFMS
Session 5 - Klapwijk
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LBMA/LPPM Precious Metals Conference 2012
13 November 2012
GOLD JEWELLERY DEMAND:
VOLUME & VALUE*
3500
Jewellery in US$ Billion
(right hand scale)
3000
100
2500
80
Jewellery in Tonnes
(left hand scale)
2000
60
1500
US$ Billion
Tonnes
120
40
1000
20
500
0
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
* Gold raw material value using annual average prices.
2009
2010
2011 2012F
Source: Thomson Reuters GFMS
GLOBAL GOLD JEWELLERY DEMAND
3500
3000
China
India
Europe
United States
Middle East (incl. Turkey)
Other
Tonnes
2500
2000
1500
1000
500
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011 2012F
Source: Thomson Reuters GFMS
Session 5 - Klapwijk
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LBMA/LPPM Precious Metals Conference 2012
13 November 2012
GOLD JEWELLERY FABRICATION AND SCRAP
3500
Jewellery Fabrication
3000
Tonnes
2500
2000
1500
Scrap
1000
500
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011 2012F
Source: Thomson Reuters GFMS
PRECIOUS METALS JEWELLERY DEMAND, 2012F
VOLUME
VALUE*
PLATINUM
1%
PALLADIUM
0.3%
PLATINUM
3%
SILVER
5%
PALLADIUM
0.4%
GOLD
26%
SILVER
73%
* Metal value calculated using annual average prices
Session 5 - Klapwijk
GOLD
92%
Source: Thomson Reuters GFMS
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LBMA/LPPM Precious Metals Conference 2012
13 November 2012
SILVER AND PLATINUM JEWELLERY DEMAND
Silver
(left hand scale)
6000
100
95
5500
90
85
Platinum
(right hand scale)
4500
80
75
70
4000
Tonnes
Tonnes
5000
65
60
3500
55
3000
50
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011 2012F
Source: Thomson Reuters GFMS
DISCLAIMER
The information and opinions contained in this presentation have been obtained
from sources believed to be reliable, but no representation, guarantee, condition
or warranty, express or implied, is made that such information is accurate or
complete and it should not be relied upon as such. Accordingly, Reuters Ltd
accepts no liability whatsoever to the people or organizations attending this
presentation, or to any third party, in connection with the information contained in,
or any opinion set out or inferred or implied in, this presentation. This presentation
does not purport to make any recommendation or provide investment advice to
the effect that any gold, silver, platinum or palladium related transaction is
appropriate for all investment objectives, financial situations or particular needs.
Prior to making any investment decisions investors should seek advice from their
advisers on whether any part of this presentation is appropriate to their specific
circumstances. This presentation is not, and should not be construed as, an offer
or solicitation to buy or sell gold, silver, platinum or palladium or any gold, silver,
platinum or palladium related products. Expressions of opinion are those of
Reuters Ltd only and are subject to change without notice.
Session 5 - Klapwijk
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