Palladium threatens gold’s reign as king of metals https://on.rt.com/9jub Palladium prices have skyrocketed, hitting record highs over the past year due to a growing deficit of the precious metal. The auto industry, the key consumer of the metal, is expected to bear the biggest impact of rising costs. On Tuesday, palladium futures hit another record of $1233,82 per ounce, narrowing the price discount to an ounce of gold to the lowest margin in nearly 16 years. On Wednesday, palladium overtook gold, reaching $1,251 per ounce, as of 9:47am (GMT), while gold futures were trading at $1241 per ounce. Palladium has taken a 49 percent jump in price since mid-August with the Wall Street Journal calling the commodity one of the best investment assets of the year. The surge in prices for the industrial metal is reportedly caused by a higher demand from the auto manufacturing sector amid the recent shift from diesel to petrol-powered engines. Palladium is traditionally used in catalytic converters aimed at controlling exhaust emissions by converting toxic gases and pollutants into less-toxic pollutants. Nearly 70 percent of palladium demand comes from global carmakers, according to data compiled by commodities advisory CPM Group. Analysts expect the price of palladium to keep rising as high demand for the metal, especially from China which is currently fighting for a less-polluted environment, may keep supplies quite tight. The vast majority of the rare metal is extracted from mines in two countries. Over 80 percent of palladium global output comes as a byproduct from nickel mining in Russia and platinum mining in South Africa. It’s impossible to increase palladium output to meet the soaring industry demand, as the supplies heavily rely on volume of extraction of other metals, Steven Dunn, head of exchange-traded funds at Aberdeen Standard Investments told Bloomberg.
analysts are party hacks and all should be regarded coldly many are brightly coloured parrots in the end, the malinverstment such dishonesty creates will come back like a boomerang to anyone foolish enough to take their word for it they are far too often biased AF
on daily chart the technical chart is drawn hammer with long handle bearish engulfing but weekly speak of cornered shorty wait for a dozen weeks...we shall see the real outcome message from Russia ring the ...bell , Campbell had fled
Chinese Auto Sales Accelerate Historic Collapse, Set For First Annual Decline In 30 Years https://www.zerohedge.com/news/2018...ic-collapse-set-first-annual-decline-30-years if this is accurate and true, then both Platinum and Palladium would be going down going forward
its ok to buy with a click of a mouse, and be able to sell with a click of a mouse if you want that staff and then let them go, then you need to bring them to malachii who is willing to take them from you it does not change the fact that a lot of smart people were lining up to buy Western Sydney apartments not sure it is as easy to just sell out to no buyer market it is not the case for palladium market, there will be a short squeeze and there is not going to be much seller left, Russia is not selling their stock piles, as they are accumulating gold well who has ever hold a 3kg Russian Palladium here ??
Palladium is rarer than platinum....doesn’t tarnish...can absorb up to 900 times its volume of hydrogen, its being looked at as water purifiers.....is a harder metal than platinum...
Pd now a gamble. Pt looking really attractive and the labour issues in South Africa practically put a base on it. Maybe I should have been bolder 2 months ago? Still got chance to get it at $800 again?
Pt down move is not complete ... -1.22% a day, is not much better than -1.26% drop in Pd Gold is uptrend Pd is just pull back Silver side way Pt and Silver charts looks so familiar similar but support for silver is moving higher, while Pt support is getting lower; compared to theirs previous supports $680 Pt ???
How much further can Palladium go? Will be almost $2000 USD soon! At what point does the auto industry start looking at Platinum again since it's half the price. I guess the high Palladium price shows ICE cars are still very popular, unlike electric cars.
Platinum is over supply, more Russian platinum would be dump into the market in the next 4-5 years so the drop is no where near the end People just buy the cars that use Palladium the party is just getting started