Palladium prices climbed to an 11 month high of $274.50 an ounce on Tuesday, as dollar weakness and growing investor risk appetite boosted the precious metals complex.
As the economic slowdown continues to impact investors, analysts are looking at the downturn as an opportunity to buy commodities at low prices. They are recommending long-term investments in precious metals including platinum, palladium and rhodium. 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.
Platinum and palladium prices fell, with the spate of poor economic data from the United States and Europe pressuring all industrial metals. For full story, click here
Spot palladium rebounded on Monday, up more than 5 per cent from New York’s notional close of $168.00. Palladium hit $176.50 per ounce as technical buying emerged after demand worries stemming from an ambiguous auto industry vote hit platinum group metals on Friday.
Duluth Metals Limited announced that the preliminary Economic Assessment prepared by the Scott Wilson Roscoe Postle Associates have confirmed the potential of the Nokomis Deposit. For full story, click here
Tuesday, August 4, 2009