Future Looking Bullish for Palladium?

Future Looking Bullish for Palladium?

Despite a recent downtown for the palladium price, a strong automotive sector, along with a number of other factors, has analysts thinking the precious metal might be on the verge of a price rise.

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Company News

North American Palladium Releases Q3 Results

North American Palladium (TSX:PDL) has released its development, operating and financial results for the third quarter ended September 30 2014. The company reported a net loss of $18.8 million for the quarter compared to a net loss of $5.3 million for the same quarter in 2013.

Friedland’s Platreef Project Gets Final Approval for Development

After nearly a month of controversy surrounding protests by some community members against Ivanhoe Mines's (TSX:IVN) Platreef Project in South Africa, Ivanhoe announced today that the Department of Mineral Resources has given final approval for the mining right for the project. Site work has been idled at the project since May 26 pending final approval of the mining right. The company is now working quickly to continue construction at Platreef.

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Market News

Platinum and Palladium to Supplies to Fall Short of Demand in 2015

For the fourth year in a row, platinum and palladium supplies are anticipated to fall short of demand, according to Bloomberg. Citing Johnson Matthey, the news outlet said that increased demand will make up for an increase in output from South African mines following protracted strikes earlier this year.

Russia Buying More Palladium?

According to Investing.com. Interfax has said that Russia will begin buying more palladium in 2015. The country has also been stockpiling gold as of late, and state agency Gokhran appears to be planning to hoard the metal, although Russia's Norilsk Nickel (MCX:GMKN) has said it wants to buy palladium from Gokhran.

Palladium Outperforming Other Precious Metals

Compared to platinum, gold and silver, palladium has run ahead of the pack to be the best performing precious metal year to date, according to Investing.com.

MF Global Reaches Settlement in Platinum, Palladium Manipulation Lawsuit

Reuters reported that MF Global Holdings will settle a class action lawsuit which accused the firm of manipulating platinum and palladium prices. The suit accuses MF Global, former MF Global trader Joseph Welsh of inflating platinum and palladium futures prices on the New York Mercantile Exchange from May 2006 to June 2008.

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