Reuters reported that as gold continues to slump, the demand for palladium will continue to increase, according to VTB Capital analyst Andrey Kryuchenkov.
As quoted in the market news:
“I think platinum group metals will outperform gold, as they have much better supply side fundamentals,” he added, referring to expectations for increased demand for platinum and palladium as the global economy recovers.
Spot platinum was down 1.04 per cent at $US1,529.25 an ounce, while spot palladium was down 0.66 per cent at $US672.75 an ounce. Palladium has been the best performer of the precious metals so far this quarter, up 6.2 per cent.