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Issue No 32 - September 2009
Fresh Gold Price Highs Possible This Year Thanks to Inflation Driven Surge in Gold Investment • Diamond Mine Economics: Production Costs, Margins & Cash Flows to 2030 - a New Study from GFMS Mine Economics • World Silver Survey 2009 - Its Key Findings & The Update • Indian Silver Investment Demand This Year is Unlikely to Recapture the Highs of Late 2008 • The Markets Still Wary of Rising Rates; the Relationship Between Gold and the Yield Curve • The Beige Book; Light on the Horizon, but Financing is Still a Problem • On the Margin • Base Metals Rally Ahead of the Fundamentals • Steel Prices Rebound from a Low Base • Base Metal Quarterly Reports - A 3-Year Forecasting Service • GFMS’ Discounted Packages • GFMS has Released the Next Round of the Quarterly 3-Year Forecasts for Gold, Silver and Platinum & Palladium • Forthcoming Gold Survey 2009 - Update 1 Launch, 14th September

Issue No 31 - March 2009
The Impact of the ‘Credit Crunch’ on The Industrialised World’s Jewellery Consumption • GFMS Announces Formation of GFMS Mine Economics • Outlook for Base Metals to 2011 • Turkey Emerges as a Significant Net Exporter of Gold • India: on the Other Side of the Balance! • The Banking Sector Bounces, but Beware the Insurers’ Risks • Equities Continue to Underperform, with Notable Exceptions • Zinc: First to Peak, First to Rally? • Steel Mills between a Rock and a Hard Place • Gold Survey 2009 will be Released on 7th April 2009 at Events in London, Johannesburg and Toronto • World Gold Analyst - Spring Issue 2009 • Ages of Gold - The Most Comprehensive Book Ever Written on Mines and Markets (World Gold Analyst) • Gold Survey 2009 Launches, 7th April 2009 • Platinum & Palladium Survey 2009 Launches, 23rd April 2009 World Silver Survey 2009 Launches, 13th and 14th May 2009

Issue No 30 - December 2008
China to Become the World’s Largest Gold Market in 2008 • Ban on Gold Imports in Vietnam Promotes a Rise in Unofficial Supply • The US Auto Industry: Still Waiting • Gold Equities Hit Hard • The Base Metals Supercycle - No More Boom and Bust? • Supply Response Begins to Pay Dividends • Gold Survey 2008 - Update 2 will be Released on 15th January 2009 during a Special Event in Toronto • World Gold Analyst - Winter Issue 2008 • GFMS Release the Hindi Edition of the World Silver Survey 2008 • Launch Events in Toronto: GFMS Gold Survey 2008 - Update 2 and GFMS-World Gold Mexican Gold & Silver Mining Report • The Silver Institute’s Annual Silver Dinner in New York

Issue No 29 - October 2008
Myths and Realities, Surpluses and Deficits in Platinum and Palladium • Indonesian Jewellery Consumption Boosted by Rural Demand • Futures Volumes Rocket as the Financial Sector Struggles • Investing in the Gold Sector: Bullion or Barrick? • Zinc – a Sign of Things to Come in the Base Metals? • Steel: Is It Time to Panic? • GFMS Metals Consulting Will Release New Three Year Forecasting Service for the Base Metals • GFMS Quarterly Three Year Gold Forecast - October 2008 Issue • Gold Survey 2008 - Update 1 Released on 17th September • GFMS Precious & Base Metals Seminar - The Highlights • China Mining Congress & Expo 2008: Join in Celebrating the 10th Anniversary

Issue No 28 - July 2008
Changing Priorities for Turkish Jewellery Exporter • Oil; a “dot.com” situation? • The Changing Landscape of the Chennai Retail Sector • Copper – Supply Tightness Offsets Demand Weakness • Can Steel Prices Defy the Credit Crisis? • GFMS and World Gold Form New Mining Equity Research • Joint Venture in London • GFMS Quarterly Three Year Gold Forecast - July 2008 Issue • World Silver Survey 2008 • GFMS Precious & Base Metals Seminar • Gold Survey 2008 - Foreign Language Editions • Excellence in Mining & Exploration 2008 on 14–16 September 2008

Issue No 27 - March 2008
The IMF, Gold and Refunding • Challenging Year Ahead for the US Gold Jewellery Market • Saudi Arabian Plain Jewellery Market Slumps on Record Gold Prices • China - A New World Leader in Gold Production • Timothy Green, Author of The Ages of Gold, Reflects on the Price at $1,000 • Commodities – A Vicious or a Virtuous Circle? • A Bullish Start For the LME Steel Futures Contract • 10-Year Gold Forecast • Base Metal Quarterly Reports - A 3-Year Forecasting Service • Steel Market Futures Briefing • GFMS Quarterly Three Year Gold Forecast - March 2008 Issue • GFMS Presents ‘The Ages of Gold’ by Tim Green • Gold Survey 2008 Launches, 9th April 2008 • Platinum & Palladium Survey 2008 Launches, 24th April 2008

Issue No 26 - December 2007
News on Italian Gold Jewellery Less Gloomy • The Fed Helps with Liquidity • Silver’s Annual Average Expected to Rise Some 16% in 2007 • Where Are We in the Supercycle? • Imports Are Undermining EU Producers’ Attempts to Lift Steel Prices GFMS presented ‘The Ages of Gold’ by Tim Green • Toronto Launch of Gold Survey 2007 - Update 2 • Launch of Chinese Edition of Platinum and Palladium Survey 2007

Issue No 25- October 2007
Global Markets in Turmoil, the Impact on the Gold Price • GFMS’ New Precious Metals Cost Service • Tim Green Captures ‘The Ages of Gold’ in a Book • Platinum & Palladium Survey 2007 – Chinese Language Edition • GFMS Precious & Base Metals Seminar - The Highlights • Inflation on the Horizon? • Pakistan Fails to Keep up with its Neighbour • Base Metals: One Year on and Nothing has changed... • Steel: One eye on 2008

Issue No 24- July 2007
New Feature to World Silver Survey 2007: Publication of Separate Fabrication Series for Silver Jewellery & Silverware • The Orient Expresses Its View • Further Steps Taken to Liberalise the Egyptian Gold & Silver Markets • Zinc: Inventories and Prices are both Heading in the Same Direction • Higher Output is Putting the Steel Market under Pressure • GFMS’ New Precious Metals Cost Service • GFMS Precious & Base Metals Seminar • Launch of Gold Survey 2007 - Chinese Language Edition

Issue No 23- March 2007
The Return of the Yellow Look & Its Implications for Jewellery Consumption •
Vietnamese Bullion Demand Soars • US Gold Jewellery Demand Set to Come Under Further Pressure in 2007 • De-Hedging Slows in the Fourth Quarter but Buy Backs to Boost Q1 • The Union Budget in India – Implications for Bullion and Jewellery •
Base Metals Rebound Quickly After the Correction in the Financial Markets • Steel: The Rally in Prices Accelerates

Issue No 22- December 2006
Silver Fabrication Demand Forecast to Fall by Just Over 3% This Year •
Dubai Demand Heats up, But Will it Last? • The IMF and Gold; A Brief History •
Steel: The Waiting Game • The Prospects for the Base Metals Sector to 2012 •
Report on Materials Flow of Platinum Group Metals - Now Only £75

Issue No 21- September 2006
Gold Survey 2006 - Update 1 Highlights • Indonesian Jewellery Demand Stalls •
Is the Yen the Next Beneficiary of Dollar Weakness? •The Base Metals Bull Market Emerges from the Summer Slow Down Intact •GFMS Precious & Base Metals Seminar - What was Said •Chinese Language Version of Gold Survey Celebrates its 10th Anniversary

Issue No 20- July 2006
Palladium Jewellery Fabrication Forecast to Rise in 2006 • The Damaging Impact of Gold Price Volatility on the Italian Jewellery Industry • US Gold Jewellery - Difficult Times Ahead • Zinc – a tale of two factors (market tightness and China’s expansion)
Are we Approaching a Peak in Global Steel Prices?

Issue No 19 - March 2006
The Outlook for Gold Investment • Thailand – A Resurgence of Bar Hoarding Demand •Peru: Elevated Price and Production Levels, but Could Policy Upset the Apple Cart? •China: Signalling a Further Revaluation? •Aluminium Prices Rally Despite Large Additions to Inventories •Global Steel Prices Converge • Gold Mining Reports Now Available for Only £24.95 •GFMS Mining’s Copper/Gold Opportunities

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