Fears of a slowing recovery and a luke warm auto sales market have hurt the price of palladium over the past month. While sales in the largest markets mainly China and the US have improved year over year, data suggests a weaker outlook than predicted.
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
While its not as beneficial to palladium producers, it may end up being even more beneficial to holders of physical palladium. For full story, click here
Palladium prices almost have to go up at some point because producers simply aren’t profitable right now. This could also make palladium producers a good investment when you consider how much of a discount they are currently selling at. For full story, click here
Physical palladium is a good investment one way or another. 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.
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.
Prices of precious metals platinum, palladium and silver are expected to slump next year as demand sags in line with economic growth. This is tough news, considering how much of a price decline the metals have already witnessed in 2008.
Palladium finally got some upside last Wednesday, when it rose 5 percent on the sentiment that the recent price slip in the metal was overdone. Prices for palladium have fallen 56 percent in the third quarter, dropped 34 percent last month alone.
Palladium and other precious metals commonly used in industrial applications, such as platinum and silver, showed small improvements today, although the strength of the US dollar has been affecting their market values in the recent past.
Wednesday, June 16, 2010