Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Fall Roughly 2% and 4%
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 8 15 2018
By: Ira Epstein

Gold And Silver: Similar To 2008
By: Dave Kranzler

It's Time for Contrarians to Get Bullish on Gold
By: Frank Holmes

Merk Research - US Equity Markets
By: Axel Merk

This Analysis Will Change The Way You Invest Forever - Part 1
By: Avi Gilburt

London House Prices Fall At Fastest Rate Since Height Of Financial Crisis
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Gain with Stocks and Dollar
By: Chris Mullen, Gold Seeker Report

Jack Chan's Question: Is This an Exhaustion Gap or a Breakaway Gap?
By: Jack Chan

Ira Epstein's Metals Video 8 14 2018
By: Ira Epstein

 
Search

GoldSeek Web

 
Palladium Bullion Surges 17% In 9 Days On Russian Supply Concerns


 -- Published: Thursday, 19 April 2018 | Print  | Disqus 

Palladium bullion has surged a massive 17% in just nine trading days. From $895/oz on Friday April 6th to over $1,052/oz today (April 19th). The price surge is due to palladium being due a bounce after falling in the first quarter and now due to Russian supply concerns.

In a volatile month, precious metals and commodities have been the clear winners so far, with palladium having the greatest gains of all – up 10.7% in April (see table below).


Source: Finviz

Palladium has surged on concerns about supply from Russia which is the world’s largest producer of palladium with various estimates of its contribution to total global palladium production ranging from 40% to 50%.

Russia and increasingly unstable South Africa control more than three-quarters of the world’s palladium supply, according to Johnson Matthey. Global palladium demand outstripped supply by 23 tonnes (25.4 tons) in 2017, so depleted stocks of this very rare and finite metal were already running low. Palladium is a key component in the global car industry and this will cause difficulties for international car manufacturers.

Palladium lease rates are moving higher in London which suggests a shortage of palladium. Some believe, including precious metals analyst David Jensen, that Russia saved the London palladium futures market (paper/ electronic market) in 2001 when physical palladium was in very short supply and lease rates exploded.

Given the increasing tensions of today and the trade and financial war being waged on powerful Russian individuals including Putin and on Russia itself, ‘the Bear’ is less likely to be as forgiving and accommodating today.


Palladium in USD 20 Years – Macrotrends.net

Were Russia to restrict the supply of palladium due to the bombing of Syria against its will or indeed due to the latest round of sanctions, palladium prices will see even greater gains.

Most of the commodities complex has surged this month due to concerns about war in the Middle East and a trade, economic and actual war between Russia and the U.S. The more aggressive latest round of U.S. sanctions from the Trump administration has jolted a broad range of Russia-related assets including natural gas, oil, base metals and indeed precious metals such as palladium.

Stocks have remained buoyant so far but the dollar and U.S. bonds have seen selling pressure. The long term fiscal outlook for Trump’s America is increasingly precarious with $1 trillion plus budget deficits being projected for the foreseeable future.

This makes the dollar vulnerable in the medium and long term and underlines the case for owning the precious metals of gold, silver, platinum and palladium. Larger allocations to gold are merited, then silver and investors should consider very small allocations to platinum and palladium.

The increasingly bullish fundamentals of the global silver bullion market were shown by us yesterday (see chart below). The fundamentals of very depressed silver are arguably even better than palladium. Palladium is not far from all time record nominal highs (see chart above) while silver at just over $17/oz languishes some 65% below its record highs of near $50/oz in April 2011.

Silver is arguably the cheapest and best value asset in the ‘inflated assets’ world of today. Due to the very positive supply demand fundamentals for silver including increasing investment demand from the “prudent smart money”,   expect silver to see similar sharp gains once it has a weekly close and breaks out above $18.50/oz.

News and Commentary

Gold scores its highest finish in a week (MarketWatch.com)

Gold advances on technical buying, light safe haven demand (Reuters.com)

Fed’s Beige Book finds widespread concerns about new and proposed trade tariffs (MarketWatch.com)

Stocks Rise on Earnings, Oil as Treasuries Decline (Bloomberg.com)

World Top 20 Silver producers 2017 (SharpsPixley.com)

India Is Facing a Risky Cash Crunch (Bloomberg.com)

Metals Gripped by Turmoil (Bloomberg.com)

IMF sounds alarm on excessive global borrowing (FT.com)

The Federal Reserve Has Done A Great Job Destroying The Middle Class (ZeroHedge.com)

IMF Warns “United States Stands Out” (ZeroHedge.com)

Gold Prices (LBMA AM)

18 Apr: USD 1,346.55, GBP 949.59 & EUR 1,088.95 per ounce
17 Apr: USD 1,342.95, GBP 937.24 & EUR 1,084.57 per ounce
16 Apr: USD 1,344.40, GBP 941.21 & EUR 1,087.62 per ounce
13 Apr: USD 1,340.75, GBP 938.93 & EUR 1,087.35 per ounce
12 Apr: USD 1,345.90, GBP 951.01 & EUR 1,090.99 per ounce
11 Apr: USD 1,345.20, GBP 947.96 & EUR 1,087.86 per ounce
10 Apr: USD 1,335.95, GBP 942.25 & EUR 1,083.46 per ounce

Silver Prices (LBMA)

18 Apr: USD 16.95, GBP 11.93 & EUR 13.70 per ounce
17 Apr: USD 16.63, GBP 11.60 & EUR 13.44 per ounce
16 Apr: USD 16.60, GBP 11.61 & EUR 13.42 per ounce
13 Apr: USD 16.51, GBP 11.57 & EUR 13.40 per ounce
12 Apr: USD 16.66, GBP 11.74 & EUR 13.50 per ounce
11 Apr: USD 16.57, GBP 11.67 & EUR 13.39 per ounce
10 Apr: USD 16.49, GBP 11.65 & EUR 13.38 per ounce

https://news.goldcore.com/

 


| Digg This Article
 -- Published: Thursday, 19 April 2018 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com 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 GoldSeek.com. 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 GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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 GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.