Weak auto sales numbers and the fears of a double-dip recession hindered the price of palladium in early July. However the metal has been rebounding due to better than expected earnings in the US, as well as on the promising news of European bank stress tests.
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.
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’s price reign as compared to platinum for over four years may come to an end due to fewer purchases by investment funds and China’s fewer car-sale incentives. According to J.D. Power Automotive Forecasting in Oxford, England, there is a drop of 8.7 percent in q3 from q2 of 2010 in China’s auto sales while [...]
Colossus Minerals Inc. announced today the closing of its bought deal offering saying that a total of $24.7 million has been raised including 1.5 units of the over-allotment. Proceeds of the financing will mainly be used to advance the Serra Pelada gold and platinum group metal project in Brazil.
Among precious metals for immediate delivery, palladium was up 0.9 percent at $176.50 an ounce. For full story, click here
Exchange Traded Funds that deal in the precious metals have been seeing an increase in business, lately. ETF Securities said on Monday the amount of metal it holds to back its Physical Palladium exchange-traded commodity PHPD.L rose 12,628 ounces or 8 percent in the week to Feb. 6.
Vast demand destruction could actually make the prices skyrocket at some point. For full story, click here
The real palladium price (in 2007 dollars) is expected to average $394/oz during the forecast period from 2008 till 2017. This is an increase of approximately 36 per cent over the average real price between 1976 and 2007. For full story, click here
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
Get our independent commentary on palladium trends and companies delivered to your inbox.
