Price/Value
April 9, 2014
Will increases in auto sales and geopolitical threats to palladium supply bring higher prices?
CNBC, by Jaewon Kang in Price/Value
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''Trading around $782 per ounce, palladium is mainly produced in South Africa and Russia. Ongoing strikes by miners in South Africa and unresolved tension surrounding sanctions on Russia could drive up the prices by triggering supply constraints.
Rising auto demand is also likely to fuel the rally.
'We're seeing real robust increases in auto sales in major markets, especially gasoline car sales in the U.S. and China,' said Mu Li, senior commodity analyst at CPM Group. Palladium-made catalytic converters are used in gasoline cars, which dominate the U.S. and Chinese auto markets.
In fact, demand for catalytic converters will keep growing, as China, the largest automotive market in the world, continues to tackle its air-quality problems.''
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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