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Pre-conference masterclass: Wednesday, 21 October 2009
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| Optimising risk management through gold hedging strategies & solutions |
This masterclass tackles a variety of approaches and tools to minimise risk for the members of the gold sector. Hosted by ScotiaMocatta, global leaders in the precious metals business – the masterclass will be comprised primarily of 2 sessions that cover gold hedging theory and praxis. This highly interactive masterclass will feature opportunities for the participants to delve deeper into gold loans, forwards and other instruments they may apply in their hedging programmes.
Whether you are a producer, refiner, trader / dealer or an investor – the masterclass will take you through relevant approaches in structuring a gold hedging programme that will address the needs of your business.
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9am | Registration
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9.30am | Session 1: Introduction to gold loans
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10.30am | Morning Refreshments
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11am | Session 2: Introduction of forward hedging integrated with market analysis and strategies to mitigate market risk
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12pm | Q&A session with the Masterclass Leaders
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12.30pm | Networking Luncheon and Close of Masterclass
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| | Ms Alice Lam, Director & Head of Marketing, Bank of Nova Scotia Mr Peter Tse, Director and Head of Trading, The Bank of Nova Scotia
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Day One: Thursday, 22 October 2009
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8am | Registration
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9am | Chairperson’s opening remarks
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| GLOBAL & REGIONAL GOLD MARKET OUTLOOK: IMPLICATIONS FOR TRADING & INVESTING |
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9.15am | Indonesia’s gold mining sector: Antam’s experience
• The bullish outlook on gold: Gold price hitting all time highs in recent months
• The Indonesian gold mining sector: New regulations and leveraging on Indonesia’s mineral wealth
• Positioning Antam as a leading gold producer in Southeast Asia
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9.45am | Reviewing trends and developments in the Indian gold market - The world’s largest gold consuming country
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Indian gold industry overview: Considering changes in the gold marketplace and what’s in store
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Understanding current drivers for Indian gold demand
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Gold price volatility impact on domestic demand
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Identifying opportunities for global gold players in India market
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10.15am | Morning refreshments
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| DETERMINING THE DEMAND OUTLOOK OF ASIA’S MAJOR GOLD BUYERS |
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11am | Gold industrial demand – Perspectives from one of the world’s leading gold refiners
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Overview of Metalor Technologies in Asia
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Assessing demand for gold for various industrial applications
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Gold recycling and its contribution to gold supply
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11.30am | Taking stock of the Indian gold jewelry industry’s demand dynamics in today’s environment
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Indian & Asian gold jewelry market overview: The who, what and why behind gold jewelry consumption
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Assessing the economic slowdown's impact on jewelry demand
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Looking at long-term consumer jewelry demand – Will seasonal jewelry demand offset the slumps?
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How are jewelers adapting to new market conditions
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12pm | Networking luncheon
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| GOLD TRADING OUTLOOK: TRENDS & DEVELOPMENTS IN ASIA |
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1pm | Establishing the IBMA as the new global price setter for gold and strengthening India’s status as a gold trading hub
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Overview of the Indian Bullion Market Association
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Assessing trends and developments in India’s gold market
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Leveraging on the IBMA as a means to strengthen India’s role in the global gold industry
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How will the IBMA influence the gold pricing regime
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1.30pm | Panel: Traders’ perspectives on the gold market’s evolving supply & demand dynamics and its implications on physical and derivative gold trading strategies
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Assessing the impact of gold price volatility on overall demand – Does investment demand compensate for weak jewelry & industrial demand?
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Developments in primary and secondary gold supply and its relationship to gold price cycles
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Opportunities in physical gold vs. gold futures
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| | Ms Lila Lu , Head of Precious Metals Department and Assistant General Manager, Financial Markets Department, Bank of Minsheng Mr Sunil Kashyap , Managing Director, Head of Asia – Scotia Mocatta and Foreign Exchange, Bank of Nova Scotia
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2.15pm | Speed Networking
Taking the headache out of networking! Gain personal introductions to the members of Asia’s gold sector. Bring lots of business cards for a highly interactive session!
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2.30pm | Afternoon refreshments
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| HEDGING AND RISK MANAGEMENT IN GOLD |
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3pm | The changing gold market
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Gold market fundamentals, central banks, consumers, producers, investors - Who is driving the price these days
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Do the fundamentals really matter?
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Understanding the motivations behind hedging – Are they effective risk management tools in uncertain markets?
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Evaluating the implications of potential regulatory changes to the gold market
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| | Mr Michael James , Director, Head of Metal Sales & Origination, Asia, Global Markets Division, Corporate Coverage Group, Commodities , Deutsche Bank
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3.30pm | Panel Interview: An Asian perspective on managing price volatility and developing effective risk management strategies
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Evaluating the extent of gold price volatility in the next 6-12 months
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Mitigating risk in gold price exposure through corporate hedging strategies for producers, end-users, traders and consumers
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Examining the best avenues for investors to gain exposure into precious metals markets – ETFs, futures etc.
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| | Mr Wallace Ng, Chief Trader, Precious Metals, Asia Pacific, Fortis Mr David Quarmby, Director, Commodities Structuring, Standard Chartered Bank (Hong Kong) Limited
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4.15pm | Close of Conference Day 1
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Day Two: Friday, 23 October 2009
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8.50am | Chairman’s opening remarks
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| GOLD INVESTMENT OUTLOOK |
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9am | Keynote: Investment themes in gold and predictions for 2009 and beyond
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Understanding the rationale in investing in gold now amidst the current macroeconomic environment
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Analysing the implications of gold’s demand dynamics and its impact on short-term and long-term investment strategies
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Tapping into opportunistic investments in gold explorers’ and producers’ equities – Why they will rebound
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Predictions for gold price for 2009 and beyond
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| | Mr Frank E. Holmes , Chief Executive Officer and Chief Investment Officer , U.S. Global Investors
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9.20am | Gold: The oldest investment has become the newest
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Gold’s potential reaction to an uncertain monetary future: Inflation or deflation?
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Thoughts on gold’s position in the world’s global investment portfolio
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Why central banks are the new buyers of gold
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Implications of gold’s return to “risk-free” status in an age of exploding fiscal global deficits
McGuire is also the author of “Buy Gold Now” (2008)
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| | Mr Shayne McGuire, Managing Director, Head of Global Research, Teacher Retirement System of Texas
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9.40am | Gold outlook: Forecasting gold’s performance and sizing up investment opportunities in gold
- Evaluating the relationship of gold jewelry & industrial demand with investment demand and its net effect on gold prices
- Understanding the drivers of gold’s investment appeal – Past, present and future
- Profiling gold’s investor base – How ETFs changed the game
- Assessing the most attractive channels to gain exposure to gold according to risk appetite
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10am | Q&A session
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10.15am | Analysts outlook: Forecasting and analysing gold price movements in the long and short term
- Understanding the fundamentals underlying gold price highs and lows
- Implications of today’s macroeconomic outlook on gold prices in the short and long term
- Will gold breach USD 1000 in 2009?
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| | Confirmed: Mr Tom Kendall , Precious Metals Strategist , Mitsubishi Corporation UK plc Confirmed: Mr Ghee Peh, Head of Asian Basic Materials and Mining Researchh, UBS Moderator: Mr Shayne McGuire, Managing Director, Head of Global Research, Teacher Retirement System of Texas
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11am | Morning refreshments
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| STRATEGIES AND VEHICLES FOR INVESTING IN GOLD & PRECIOUS METALS MARKETS |
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11.30am | Buying gold bullion ETFs as a strategic alternative investment strategy
· Understanding the mechanics of how a gold ETF works
· Comparing risk-return tradeoffs & opportunities between gold ETFs and physical gold ownership
· Tracking gold ETFs investment performance across other investment channels into gold
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12pm | Maximising exposure to gold & precious metals through a broad ETF strategy
- Gold bullion ETFs versus gold mining ETFs
- Diversifying into other metals (commodity ETFs) and miners (equity ETFs)
- Effective ETF combinations for different objectives
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| | Mr Richard Kang, Chief Investment Officer & Director of Research, Emerging Global Advisors, LLC
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12.30pm | Networking lunch
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1.30pm | Deploying successful strategies in investing in physical gold products
- Considerations for investors in investing in physical gold products versus paper products
- Differentiating various physical gold investment products – Bullion, coins, precious metal accounts etc.
- Investigating the risk & return potential for the respective products
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2pm | Surveying developments in Turkey’s large and mature gold & jewelry market
- How is Turkey positioned in today’s current market conditions
- Analysing the drivers of gold demand and scrap supply – Turkey’s recent volumes of imports, exports of gold and jewelry
- Current and future opportunities for global players in the Turkish precious metals and jewelry industry
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| INSTITUTIONAL & RETAIL INVESTOR FOCUS: ASSESSING INVESTOR SENTIMENT FOR GOLD |
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2.30pm | Gauging institutional investor interest in gold and identifying optimal asset allocation strategies to incorporate gold in investor portfolios
- Assessing institutional investor interest: Understanding why some are bullish and why others are bearish on gold
- Determining the optimal allocation for gold investments in a portfolio
- Identifying risk-adjusted exposure strategies into the gold sector for institutional investors
- Guarding against volatility – Evaluating gold’s risk-return potential amidst current macroeconomic conditions
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3pm | Afternoon refreshments
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3.30pm | Panel: Surveying gold investment opportunities for retail investors according to their risk-return appetites
- Analysing Asian consumer buying trends for gold retail products – Is demand on the rise?
- Evaluating preferred retail investment channels for physical gold – bullion bars, coins, jewelry etc
- Commodity trading strategies for retail investors – Assessing the risk-return scenario for retail players
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| | Mr Patrick Tang, Business Director, Sincere Bullion, Sincere Finance Holding Limited
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4.15pm | End of Conference
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