The timing of the updates may be opportune given that the Bank of England (BoE) has been drip-feeding the market on the prospect of negative interest rates. A key consideration, one would imagine, not only for gold producers, but also for those investors who are holding a higher proportion of cash than they might under normal circumstances.
Even if we disregard the proposition that real interest rates are already in negative territory, at least when you factor in the impact of the Consumer Prices Index (CPI), the increased physical premiums we are now seeing on bullion trades could point to rising anxieties over currency debasement. (Admittedly, sceptics might also point to the impact of the Indian wedding season – dowry time – which takes place between Oct-Dec.)