Classic Realcent Archives
Classic Realcent Archives
Home | Profile | Active Topics | Active Polls | Members | Private Messages | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 Bullion Coins and Metals Investing Forums
 Silver Bullion, Gold, & other Bullion Metals
 Shortages could drive palladium prices up in 2011
 Forum Locked
 Printer Friendly
Author Previous Topic Topic Next Topic  

Ardent Listener
Administrator


USA
4841 Posts

Posted - 03/05/2011 :  18:26:48  Show Profile Send Ardent Listener a Private Message
Shortages could drive palladium prices up in 2011

According to a recently published report, the price of palladium could jump in 2011 because of supply shortages of the precious metal.

According to Switzerland customs data, the amount of imports of palladium from Russia, the world's biggest exporter, fell 12 percent in 2010. Switzerland is an important indicator of supply levels because it serves as the European hub for the precious metals trade. Nonetheless, fewer shipments of the metal could cause supply chain disruptions, especially in the newly resurgent automobile industry.

Global automobile sales jumped in 2010 and have started off strong in 2011; in February, GM recently reported a 46 percent sales increase from the year prior. The increased demand for cars, however, is putting pressure on palladium miners because the precious metal is a critical component in automobile manufacturing.

The most accurate price forecasters of palladium, according to Bloomberg, predict that the median palladium price will climb as high as $940 per troy ounce in 2011. On Wednesday, palladium futures traded at $821 per troy ounce in New York.

David Davis, a mining investment analyst at SBG Securities, a subsidiary of Standard Bank, told Bloomberg the "palladium market, excluding any Russian stockpiles coming in, is going into an ever-increasing deficit." Ultimately, that's going to "put upward pressure on the price," he affirmed.
Posted by Strategic Sourceror at 5:08 PM

You must be logged in to see this link.

Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.


Think positive.
  Previous Topic Topic Next Topic  
 Forum Locked
 Printer Friendly
Jump To:
Classic Realcent Archives © 2000-2010 Realcent.org Go To Top Of Page
This page was generated in 0.12 seconds. Powered By: ForumCo v3.4.05
RSS Feed 1 RSS Feed 2
Powered by ForumCo 2000-2008
TOS - AUP - URA - Privacy Policy