• "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

What's behind the beatdown on palladium?

chieftain

Silver Miner
Joined
Jan 4, 2020
Messages
1,371
Likes
1,826
#1
It's down 11% from this time yesterday. Anyone know what gives?
 

glockngold

Gold Member
Gold Chaser
Sr Site Supporter
Joined
Mar 31, 2010
Messages
3,548
Likes
4,776
#2
Well it's up from $500. not so long ago ~2016.
Hardly a beat down.
 

the_shootist

Old White Guy
Midas Member
Midas Supporter ++
Joined
May 31, 2015
Messages
47,439
Likes
80,412
#4
I'm not sure how and why it got so high in the first place. What we're seeing these last weeks are long overdue, major adjustments in all metals. Some metals are undervalued, some over valued
 

Ragnarok

I'd rather be
Midas Member
Midas Supporter ++
Joined
Mar 31, 2010
Messages
5,763
Likes
4,737
#5
People aren’t buying as many cars as they used to, so less demand for catalytic metal?

R.
 

Usc96

Gold Member
Gold Chaser
Joined
Oct 25, 2010
Messages
1,773
Likes
942
Location
Where the weather is nice.
#6
I'm not sure how and why it got so high in the first place. What we're seeing these last weeks are long overdue, major adjustments in all metals. Some metals are undervalued, some over valued
I am with you. The catalytic converter argument seemed to explain the run up in price when palladium cost less than platinum, but once palladium got more expensive, that reason stopped making sense to me.

What else is palladium good for? Coins? No way the US Mint decision to make a palladium offering caused that big of a price swing. Right?
 

Usc96

Gold Member
Gold Chaser
Joined
Oct 25, 2010
Messages
1,773
Likes
942
Location
Where the weather is nice.
#7
People aren’t buying as many cars as they used to, so less demand for catalytic metal?

R.
That is logical, but seems the auto makers would have shifted back to platinum once palladium doubled the price of platinum. That was the stated reason 5 year’s ago for the move to palladium to start with - that platinum was too expensive and palladium was almost as good, but at half the price.
 

stas3000

Silver Miner
Seeker
Joined
Jan 7, 2012
Messages
830
Likes
609
Location
USA
#8
From what I've read/heard, one of the major reasons palladium and rhodium prices have been rising in recent years has been supply shortage. Not sure that usage has been increasing... may have been. But with stable usage and contracting supply, prices normally rise.