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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

    Mar 31, 2010
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    by Tyler Durden
    Wed, 01/03/2018 - 11:15
    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.


    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.


    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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