Financial institution Credit Suisse commodities research VP Tom Kendall will focus on the outlook for the global gold sector during his presentation at the Commodities Review and Outlook Forum at the Investing in African Mining Indaba 2012.
Financial Times integrated research service China Confi- dential reports that Chinese gold imports from Hong Kong, a proxy for overseas buying, hit a record high in October 2011 and accounted for more than one-quarter of global demand.
“It is a big but credible number as the price arbitrage between London and Shanghai was definitely favourable for Chinese imports during late September and throughout October,” Kendall told China Confidential.
Kendall predicted that overall Chinese imports would reach between 470 t and 490 t for the full year, up from 245 t last year.
Kendall is responsible for fundamental market analysis, generating tactical and strategic trade ideas, and advising clients on purchasing, trading and hedging strategies for gold, silver and platinum-group metals at Credit Suisse.
He is regularly quoted in the financial and business press, including the Financial Times and Wall Street Journal. In 2010, he topped the Reuters annual poll of analysts as the most accurate forecaster of the gold price.
Prior to joining Credit Suisse in April 2010, he spent three years as global precious metals strategist for Mitsubishi Corpo- ration and before that he was manager of market research for precious metals refining group Johnson Matthey.
Kendall previously gained extensive experience as a business journalist with Metal Bulletin and began his career with Roskill Consulting in London as an analyst covering the minor metals markets.
He holds a BSc (geology) degree from Southampton University, in the UK.