Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Find Modest Gains on the Week
By: Chris Mullen, Gold Seeker Report

Gerald Celente: Fed May Bring Down the Economy, Crash Markets
By: Mike Gleason

COT Gold, Silver and US Dollar Index Report - September 21, 2018

GATA appeals to the new Shareholders Gold Council
By: Chris Powell

A Constructive Suggestion
By: Theodore Butler

Gold Exodus to Reverse
By: Adam Hamilton, CPA

Signals for the Coming Crash in Stocks and Rally in Gold
By: David Brady, CFA

Trade War vs. Commodities
By: Louis James

GATA asks CFTC if market rigging by U.S. govt. is legal
By: Chris Powell

Is This Time Really Different? Fed Tightening and Gold
By: Arkadiusz Sieron


GoldSeek Web

Russian Sanctions May Create Serious Supply Shortages For Platinum and Palladium

 -- Published: Tuesday, 18 March 2014 | Print  | Disqus 

Today’s AM fix was USD 1,362.50, EUR 979.37 and GBP 820.49 per ounce.
Yesterday’s AM fix was USD 1,379.00, EUR 992.37 and GBP 829.13 per ounce.

Gold dropped $14.80 or 1.07% yesterday to $1,366.20/oz. Silver fell $0.28 or 1.31% at $21.13/oz.

Yesterday, gold snapped its five session winning streak as speculators took profits as tensions over Ukraine abated somewhat. Gold declined from a six-month high after U.S. industrial production increased more than expected, leading to a reduction in safe haven demand.

Bloomberg Industries

Traders await the outcome of the two-day Federal Open Market Committee’s meeting on Tuesday and Wednesday. Janet Yellen looks set to confirm that tapering will continue as will zero percent interest rates and ultra loose monetary policies.

Gold surged in recent days due to tensions between Russia and the West. The referendum over the weekend paved the way for Russia to annex Crimea. European Union foreign ministers agreed today to freeze assets and impose visa travel bans on 21 Russians and Crimeans.

The net-long position in gold rose 4% to 123,007 futures and options in the week ended March 11, the highest since December 2012, U.S. Commodity Futures Trading Commission (CFTC) data show. Short holdings fell 20% to 21,073, the lowest since October. Last week, exchange-traded products backed by gold climbed 0.7%, the third straight gain.

Silver fell 0.6% to $21.10 an ounce. Platinum fell 0.7 percent to $1,458.40 an ounce. Palladium gained 0.5% to $768.40 an ounce. Russia is the world’s biggest producer and exporter of palladium.

The continued supply side constraints for the platinum group metals (PGMs) should be supportive of prices and indeed could lead to new record nominal highs in the coming years.


Any sanctions imposed by the EU and the U.S. on the export of Russian palladium group metals would create a serious supply shortage that may be difficult for industries to replace. This year will show the third consecutive deficit year in global palladium supply, according to a Bloomberg Industries survey of analysts.

Russia provided 44% of global palladium supply and 13.6% of platinum last year, according to Johnson Matthey.

A pick up in China's demand for platinum group metals may offset any sanctions imposed on Russia by the U.S. and European Union countries. An increase of 26% sequentially in platinum imports by China in November suggests that domestic supplies are depleting. Russia has typically provided about 30% of China's palladium imports and China may need to increase imports from the country as labor disputes in South African mines continue to affect production there.

In 2012, the platinum market was in deficit for the first time in eight years, as labour disruptions in South Africa led to about 600,000 ounces of lost production. These deficits may have grown in 2013, based on consensus, and bulls argue they will continue beyond 2014 as more disruptions and closures loom. Further, auto sales performance has been strong and the start of a new ETF has led a surge of investment demand. Tightness in the PGM markets is bullish for prices and makes a small allocation of platinum and palladium prudent.

The 7 Key Allocated Bullion Storage Must Haves
A diversification into gold, silver, platinum and palladium remains prudent and will again protect investors, both retail and institutional, pensions owners and savers, over the medium and long term. Fully segregated and fully allocated gold coin and bar storage remains the safest way to own bullion.

There are a number of key storage must haves and we have compiled the absolute benchmark allocated gold storage list that will enable those seeking an allocation to physical gold to evaluate potential bullion and more importantly storage partners.

Download your copy of 7 Key Allocated Gold Storage Must Haves here.

| Digg This Article
 -- Published: Tuesday, 18 March 2014 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2018 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.