Last year, palladium prices exceeded expectations, but the metal, has also lost some shine with some investors. However, if predictions are correct and the downfall is temporary, palladium may still be full of opportunity.
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 prices rallied on Monday, as the weaker dollar encouraged a recovery in the commodities prices after heavy losses last week. Bargain hunting after last weeks lowest price point was hit drove spot palladium to an intraday high of $197 an ounce, more than a five percent rally.
Wednesday, April 20, 2011