Japan has shown a tendency toward a long-term view of PGMs, a move that could prove strategic given the potential for shortages.
Articles Tagged "pgms"
IBTimes Hong Kong reports that precious metals are back up this week as the US releases positive economic data.
They Sydney Morning Herald reports that platinum group metals are little changed due to their applications in industry this morning.
Mineweb reports that palladium barely rose as worries about Greece plagued investors through the weekend and the US dollar rose.
Forbes reports that Barclays Capital analysts are “positive” on platinum and palladium for the long term although they believe the metals will move up and down.
The Sydney Morning Herald reports that platinum group metals may increase after European governments failed to agree on a Greek rescue package.
On January 5 palladium tumbled nearly 6 percent as the strong dollar knocked down all the precious metals. The metal hit a daily low of $178.50 an ounce, but was quoted at $180.00. On January 12 the metal picked up some steam, and rebounded to $191 per ounce.
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.
Stillwater Mining CEO Frank McAllister believes that long-term demand for PGMs should be robust, as the current low metals prices cause production to dwindle. For full story, click here