Palladium and Platinum Both Showing Gains as Consumer Confidence Returns says Pan American
(1888PressRelease) Palladium and Platinum Both Showing Gains as Consumer Confidence Returns says Pan American Metals of Miami Both metals predicted to go into deficit in next few years.
Palladium and platinum were both making a strong recovery today, October 6, following some serious losses. Pan American Metals of Miamishowed palladium at $602, up $29 and platinum at $1511, up $33. Platinum is rarely priced lower than gold and it is not unexpected therefore, that it should be staging a comeback. However, palladium’s gains, percentage wise, are extremely impressive. Standard Bank predicts that palladium will be in deficit for the next few years as demand continues to outstrip supply. Platinum is also likely to see a deficit, though perhaps a little later.
Both metals have considerable demand from the automotive sector and sources are rare. Add to this the fact that labor costs are generally far below what would be reasonable and supply starts to be plagued with uncertainty. At present prices, platinum is being mined almost at a loss, a frightening situation for producers. There is clearly considerable motivation for suppliers to do what they can to force the price back up, meaning that production could slow down, setting the stage for a deficit later, when prices have recovered.
“We would expect to see prices continuing to rise for the platinum group metals as consumer confidence is restored and demand from the automotive industry increases,” says Bill Hionas of Pan American Metals of Miami. “Platinum is extremely rare and generally trades at a premium to gold.”
From an investment point of view, the white metals, like gold, have an intrinsic value, based on their beauty, rarity and functionality. In fact, investment demand in platinum and palladium has risen exponentially over the last decade.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and account executives, who combine many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.panamericanmetalsofmiami.com
Press Contact
Debbie Bailey
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Source:
http://www.1888pressrelease.com/palladium-and-platinum-both-showing-gains-as-consumer-confid-pr-340967.html
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