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Palladium Panic-Bid To Record Highs As Shortage Fears Mount

Discussion in 'Gold Silver (All things Metal)' started by Silver, Jan 3, 2018.



  1. Silver

    Silver Gold Member Gold Chaser

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    https://www.zerohedge.com/news/2018-01-03/palladium-panic-bid-record-highs-shortage-fears-mount

    by Tyler Durden
    Wed, 01/03/2018 - 11:15
    2
    SHARES
    Palladium was up 55% in 2017 - the best performing commodity in the world - and if the first two days of this year are anything to go by, 2018 will see a repeat.

    Palladium inventories in warehouses tracked by Nymex shrank 25 percent in December, capping a fourth straight annual decline, the longest streak since 2000.




    [​IMG]

    Amid shrinking inventories and still strong (credit-fueled) auto production (and sales), Bloomberg reports the metal used to curb pollution from gasoline-fueled engines climbed to a record on the New York Mercantile Exchange as the dollar weakened for a fifth straight day.



    [​IMG]



    Palladium production will continue to lag behind consumption until at least 2022, Morgan Stanley analysts forecast in a report Dec. 11.

    “People are worried about shortages,” Peter Thomas, a senior vice president at Zaner Group LLC in Chicago, said by telephone.

    “The market took off on short supply, good demand and a weak dollar, and ran into some monstrous amounts of stops and popped and rallied.”

    Good thing there is no inflation.
     

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