A leading provider of electronic transaction processing solutions, Global Payments Inc. (NYSE: GPN), has announced its sale of money transfer business, DolEx- and Europhil-branded to an affiliate of Palladium Equity Partners, LLC. David Perez, a Managing Director of Palladium Equity Partners is quoted saying: “We look forward to working with the management team at DolEx/Europhil [...]
Natixis Commodity Markets has warned investors and miners of the fast depletion of precious metals due to the heavy production and use. The Global market analyst group thinks of the downside in Palladium use since although there was a balanced state of supply last year, 2010 has proven to be a modest deficit year for [...]
Russia’s Norilsk Nickel (GMKN.MM), world’s largest palladium producer has confirmed that it will not be focusing on palladium production from 2011 to 2015. Deputy CEO Viktor Sprogis is quoted saying: “The company and other main market players conclude on the basis of indirect indicators that the state palladium stocks will not be a decisive factor [...]
North American Palladium (NAP), a precious-metals producer, is doing a scoping study to develop the new Offset zone at its Lac des Iles (LDI) Palladium mine in northern Ontario and expects completion by Q3 of this year. CEO William Biggar is quoted saying: “This will make NAP a very low cost producer of palladium.” Click [...]
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.
Palladium prices was bid at $238 an ounce at 1303 GMT, having hit a day’s high of $243 an ounce, as an equities rally cheered sentiment in industrial metals. For full story, click here
Palladium’s gains were snapped last Friday as the greenback rallied. The precious metal came under pressure as a study from the University of Michigan showed an unexpected increase in consumer confidence. This reduced the metals “safe-haven” appeal.
Palladium was the only precious to be on the positive track on Monday, as the equity rally deteriorated the flight to safe haven investments. Palladium’s near term outlook remains bleak, as reports from Europe said that car registrations dropped 18 percent in February.
RJK Explorations Ltd. reported that it has optioned the Dorion South property that consist of 9 claims in the Magma Metals PlatinumPaladium Discovery area, 60 km northeast of Thunder Bay. For full story, click here
This week, palladium finally began to follow gold and lose some of its safe haven appeal. After holding steady and resisting gold’s sell-off, platinum and palladium have finally succumbed, dropping rapidly in this morning as poor auto industry numbers rolled in.
Thursday, May 27, 2010