Vladimír Urbánek (Kurzy.cz)
Commodities  |  16.4.2013 15:58:01

Safina: Rating precious metals market 1Q13


SAFINA, Inc., a leading processor of materials containing precious metals in Central and Eastern Europe, an evaluation of the development of Czech and international precious metals market for the first quarter of 2013. Most t oto characterize the decline in the value of gold in U.S. dollars, the central bank purchases and increased demand for physical gold in Asia.SAFINA in the first three months of the year earned in the segment of investment precious metals more than 150 miles . CZK, and is still the leader in this market in the Czech Republic.

Compared to the same quarter last year for the comparable figure. Approximately 80% of sales of investment metal goes to the domestic market and the remaining 20% is distributed to the countries of the European Union - particularly Poland and the Baltic States."According to our estimates, the market size for precious metals investment in the Czech Republic about 3 billion CZK. In the field of business around 200 companies, SAFINA still holds a leading position, "says Tomas Plachy, CEO, SAFINA.

The international situation

Gold market has undergone significant change in the middle of February, when it was recorded in two weeks correction of about 6% - price in USD per troy ounce, down from 1668 to 1 576 USD. The market began to proliferate speculation about the possible end of a continuous twelve-year growth rates on this commodity. "Situation and development of the economy, however, this does not indicate, there is no rapid recovery and no prospects are not optimistic. In our view, gold will keep safe haven, "says Libor Krapka, business manager for investment metals, SAFINA. Advantage of this situation and the central bank, which bought a record amount of physical gold in their reserves. "Influence of the movement of gold prices could have also been reports that major investors in gold   - Namely G. Soros - have sold some of their positions in the gold funds, but in our opinion it is more a question of, if not implemented a portion of their profits and buying at current prices, "says Libor Krapke international developments.  

Prices of precious metals in the first quarter strongly affected about developments in Europe triggered speculation about possible incentives of central banks and monetary easing. For example, the British Bank of England announced that it was prepared to intervene to help the recovery of British Industry (industrial production recorded a 1.5% drop). The European Central Bank reaffirmed its commitment to buy bonds of heavily indebted countries in the secondary markets as long as it takes. Excessive optimism did not have any downgrade of Italy by one notch by Fitch. The economy is also wiggled the euro zone debt problems - currently proposed measures on Cyprus.

Its role in supporting the growth of gold also plays a situation in Asia. The easing of monetary policy which takes place in Japan, in addition to the Asian region unexpectedly increased demand for physical gold investment demand compared to securities backed by gold. Market support purchases of physical gold from China, twenty tons of commodities purchased in February South Korea's central bank."The next quarter is expected to increase physical demand in India, where it begins in April the traditional wedding," says Libor Krapka.

The third strong geographic area that affects the development of the price of precious metals, as the United States. Although some analysts monitor signs of improvement in the world economy just in the U.S., the situation is still very tense. I still ongoing discussion on the revision of the U.S. Fed stimulus measures. Fed's loose monetary policy weakens the dollar, which is trading just gold investment, and also raises fears of inflation. For U.S. investors, it is better to invest in gold.

Commodity market with platinum significantly affected the financial problems of several major producers and reduced production of several mines in South Africa, which manages more than 40% of the world production of platinum. Platinum has become the one moment of this quarter again the most expensive metal. This was a one day - namely 13th February, when the PM fix was platinum for one troy ounce of 85 USD more expensive than gold. Within a month, she returned to the price level under the gold price (PM Fix March 14 - Gold 1586 USD / 1 oz, platinum - 1583 USD / 1 oz).

The volatility of silver is, in terms of precious metals, the highest, the average price of the last complete year $ 31.15 per troy ounce and in the first quarter of this year it was $ 30.14 per troy ounce, so the difference is not essential. The platinum group metals and silver are bound to industrial production."The recovery of the world economy, we expect significant growth in just the prices of these precious metals, which are used in industrial production, particularly platinum, where the extraction is limited to a few places and the slightest incident in a mine can have a big impact on the price," Libor adds Krapka.  

Development of the Czech market

"On the Czech market are not pursuing any large local differences, although buying physical gold from year to year more perceived by the general public as a normal part of their investment portfolio and as a safeguard for the worsetimes. This is in other developed countries has been common for a long time and we have to just get used to people, "says Libor Krapka," The specifics of our market may be the fact that there are so many companies offering investment in gold, which carry carries a risk for consumers, who should carefully consider which company you choose, not only in terms of purchase, but later liquidity - the sale of gold. "

SAFINA in the first quarter of this year has seen more interest from individuals who used the occasion of correction in the gold price to its purchases. The highest purchase one person featured 20 kg physical gold.

From the perspective of the leader on the Czech market investment gold is still recommended as beneficial for long-term investment horizon of three years or more. Less conservative investors often choose also other precious metals that are more related to industrial demand, and using today's prices and the recession of economies to profit in the development and the projected growth of the price. "Currently, we recommend using the price after the February correction to buy at affordable prices for all precious metals, "says Libor Krapke.

# # #

SAFINA, as. is a company with a comprehensive product range in the processing and production of precious

  and non-ferrous metals, including recycling. The main focus of the company are industrial production and recycling of electronic, automotive, chemical and glass industries. A key activity is the production of

and sale of investment drahokovových plates and ingots, which are produced mainly from metals such as gold, silver

and platinum. Production Safin is based on environmental management and the latest innovations in the field. Its activities are centered not only on the European continent, which is a priority, but focused also on other territories, particularly Asia, North America and the Russian Federation. SAFINA employs 218 people and its turnover in 2012 generated 4.7 billion CZK. SAFINA, as is located in the village Vestec near Prague, where the headquarters and main production complex society. In 2012, the company SAFINA included in the prestigious ranking Czech Top 100 gained a significant position in the contest Exporter of the Year. SAFINA, as a member of the Swiss group SAFICHEM GROUP, together with other companies, Chemoprojekt, CHEMOPROJECT NITROGEN as TECHNOEXPORT, as a VUAB Pharma as www.safina.cz

For more information, please contact:
Tereza Procházková,
tereza.prochazkova @ bestcg.com , 602250487

Barbora Dlabáčková, barbora.dlabackova @ bestcg.com , 602161138

Appendix:

Development of prices of gold, silver, platinum, palladium and rhodium in the first quarter 2013

 

 

 

 

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