The tight supply of palladium in 2011 will encourage higher prices for the metal over the course of the year. Russian state stockpiles are rumored to be dwindling and may run out because of the increased industrial demand for the metal. In South Africa the ability to increase production is hampered by a lack of reliable electricity. These factors play into the rising expectations for palladium prices in 2011.
Although investing in metals is always risky business, analysts are pinning palladium and platinum as safer bets over the long run.
Palladium futures dipped in New York on speculation that demand for the metals will remain slack because of a subdued recovery in the global economy. For full story, click here
NYMEX July platinum PLN9 reported to have finished down $28.70, or 2.3 percent, at $1,218.30 an ounce following Monday’s rally based on optimism related to China’s autocatalyst demand. For full story, click here
Palladium surged 10.3% in March, and by 3rd April reached $221/oz, its highest fix since September. Palladium has been boosted by glimmers of a recovery in its demand prospects. For full story, click here
What if demand destruction continues in the palladium market due to the auto industry? That’s a bit more difficult of an issue to tackle. For full story, click here
In the first six months of ’09, palladium’s value could range from $125 to $300 per ounce. The outlook for palladium is positive in some of its applications, however, a worsening economic climate and the possibility of a stronger US dollar could send palladium to as low as $125/oz during the next six months.
The palladium market will be in surplus by 3.2 million oz and the demand is forecast to rise by 3.8 per cent to 7.19 million oz.. For full story, click here
Palladium inched up, tracking gains in gold, despite more bad news from the car industry, the main consumer of both metals. For full story, click here
The industrial precious metals have suffered more from the economic downturn than gold, with platinum and palladium, which are chiefly used in catalytic converters, both dropping significantly from their summer highs. Palladium at $184/192 an ounce against $187.50. For full story, click here
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