Friday, March 5, 2010

Palladium Surges to 20-Month High

Palladium Prices

Earlier in the day palladium increased to $479.10 an ounce, its highest level since June, 2008. Later in the day the price for June delivery stood at $476.70 and ounce, still a nice 2.9 percent move of $13.50.

Most of this is based on the possibility that increasing auto sales will be sustainable, something I wouldn't count on, but it is a possibility.

Assuming demand does continue to grow, the supply situation would work for palladium prices to continue increasing during 2010. If that does happen, it is estimated there will be a shortage of palladium of up to 800,000 ounces.

Palladium Prices

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