ETF Securities reported that palladium is rallying on the back of increasing expectations of a "meaningful" palladium deficit in 2013.
Palladium Market News Directory
MetalMiner reported that the US palladium bar price increased by 4.6 percent this week, the third week in a row that the price of the metal has risen.
MetalMiner reported that yesterday, Chinese palladium bar prices fell by 5.7 percent, while prices for US palladium bars went up by 1.7 percent.
Mining Weekly reported that Norilsk Nickel OAO (MCX:GMKN), the world's top palladium producer, thinks that in 2013 the palladium deficit will rise 25 percent on the back of falling supplies. That will bring the deficit up to about 1 million troy ounces.
InvestorPlace reported that because palladium tends to trade in tandem with auto stocks, auto stocks can indicate — sometimes weeks ahead of time — what the ETFS Physical Palladium Shares (ARCA:PALL) will do next.
Bloomberg reported that in a report released Thursday, Thomson Reuters GFMS said that palladium recorded the highest deficit in 11 years in 2012. The deficit was caused by increased demand and less supply as a result of strikes at South African mines.
Reuters reported that palladium declined 2.7% on news that the demand for new vehicles in the European Union continues to weaken.
Bloomberg reported that palladium slid 5.4% on the Tokyo Commodity Exchange after a sell-off brought about by a drop in spot prices and a stronger yen.
Reuters reported that Japan Oil, Gas and Metals National Corp (JOGMEC) confirmed the presence of 188 tons of palladium in South Africa’s Waterberg region.
Reuters reported that palladium was up 1.6% as the dollar weakened on Thursday, triggering bargain hunting.