Congrats to those who got into palladium. I continue to be amazed. (I managed to unload my only Palladium Eagle when it palladium was $1,350 - mainly because I didn't need another metal to track or manage.)
I think the illogic of palladium being higher than gold keeps speculators from piling into (lower premium) Maples in quantity. How high can it go without much interest in the other metals?
Q: Are You Printing Money? Bernanke: Not Literally
In 2008 I picked up 26 oz for under $300 an oz. One of the best moves I've made. Only time I bought any palladium. Really had no reason for doing it that I remember, except to maybe diversify my portfolio a little. Glad I did though. I still have it all and don't plan on selling anytime soon.
@JeremyDie1 said:
In 2008 I picked up 26 oz for under $300 an oz. One of the best moves I've made. Only time I bought any palladium. Really had no reason for doing it that I remember, except to maybe diversify my portfolio a little. Glad I did though. I still have it all and don't plan on selling anytime soon.
Excellent investment! I don't think this run up is over yet...
Just got a dental crown replaced yesterday. Since the metal portion of the old one is Palladium (more stable with heat and cold), I asked for (and got) the old crown. Now I just have to figure out how to separate the porcelain from the metal and what to do with it afterwards!
Palladium hit its highest ever on Tuesday, crossing the $1,600 an ounce mark for the first time as news that Russia is planning to ban exports of precious metals scrap fueled concerns over an already supply-constrained market.
Spot palladium was up .6 percent at $1,593 an ounce, having hit a record high of $1,606 earlier in the session.
"There have been rumours that Russia would restrict exports of some scrap materials. When the market is as tight as palladium is, sometimes such news can take on more significance than it should," said Philip Newman, a director at Metals Focus.
"It comes back to the fact that you have an underlined tight market, where demand is far outstripping global supply."
Russia's trade and industry ministry last week said the proposed ban on exports of precious metals scrap and tailings would last from May 1 to Oct. 31.
Russia is a major producer of palladium, which is used mainly in catalytic converters.
News that China, the world's biggest auto market, will enforce stimulus measures to boost its tiring economy has also helped the case for the metal, analysts said.
Commerzbank attributed the spike in palladium prices to speculative buying interest.
Prices have nearly doubled since their mid-August lows and have already surged about 27 percent this year.
No other currency can match the staying power of gold. It's earliest known use as money was 643 BC, and it's been a form of currency ever since. Empires have risen and fallen, we've gone to the moon and sent probes to Mars, yet gold is still valuable. That's a good sign for people who like stability.
Research from Duke University found that gold's purchasing power has been consistent throughout history. They analyzed the wages of Roman centurions, who were paid in gold, and found that they were "approximately the same as a modern day U.S. Army captain's pay." They also showed that "the price of bread (in gold) thousands of years ago is about the same as we would pay today at an upscale bakery."
Nothing is ever guaranteed in investing, but if you are looking for something to add to your portfolio that is very likely to at least maintain it's value, the Duke thinks gold is a good bet.
Almost 80% of global palladium demand comes from the automotive industry. In the coming years, car sales in leading countries - the USA, China, Europe, are expected to continue to grow. And this will keep palladium at a high level. The palladium market was scarce last year (the shortage was covered by reserves). The fundamental factors of the global palladium market will continue to favor price increases. Gold should be in the portfolio of the investor, because its use increases profitability and reduces volatility.
Gold, in terms of financial assets, is stable. Gold prices rarely soar or collapse. Price fluctuations are quite predictable. This makes investing in gold quite reliable and simple. It is possible to single out the main disadvantage of this asset: You will have to wait long enough to get serious profit.
The world is probably waiting for big economic and political pressures. The stock market is a big bubble. The bubble will burst. The term is not years, but months.
@asheland said:
Down $97 bucks today! I wonder what's happening?
Roll to the June futures. Gotta love backwardation.
nope
this decline is all within Wednesday post midnight
Backwardation provides no time time/price support. The June contract was already $30 lower. Do the roll, add a little negative news and willing sellers and bye-bye.
But why? I just finished my day and haven't read any news, yet. Off 6%. A bit volatile after a fairly long runup. Could just be normal market retracement. Unless there's a reason.
Q: Are You Printing Money? Bernanke: Not Literally
Just looked at Kitco, all the PMs are down majorly, rhodium close to 10% and palladium not far behind. Gold is actually doing relatively better than most of the others.
it is what it is.
I would guess it was in bubble territory and we did not know it. I'd think after the first $100 drop that PA would be bought because of the supply constraints, but it lost another $100 on top today.
@MsMorrisine said:
it is what it is.
I would guess it was in bubble territory and we did not know it. I'd think after the first $100 drop that PA would be bought because of the supply constraints, but it lost another $100 on top today.
now the question is where is buying support?
Backwardation is really just another word for bubble. Warnings were issued.
To answer your question look at past backwardations.
Comments
1,474.10 right now. We should see $1500 this week.
My YouTube Channel
1502
Now @ $1,506. Wow.
Congrats to those who got into palladium. I continue to be amazed. (I managed to unload my only Palladium Eagle when it palladium was $1,350 - mainly because I didn't need another metal to track or manage.)
I think the illogic of palladium being higher than gold keeps speculators from piling into (lower premium) Maples in quantity. How high can it go without much interest in the other metals?
I knew it would happen.
$1,532.80
My YouTube Channel
$1,535.00
I knew it would happen.
As the bubble slowly inflates...……..
Worry is the interest you pay on a debt you may not owe.
Will we see $1700 Pd, before we see $1400 Au ?
$1,555.70
My YouTube Channel
At this rate, we may see 2,000 Palladium before 1400 gold...
My YouTube Channel
I think it's a bubble and I'm testing the waters with mine now on Ebay.
Come back in a few months and lets see how dumb I was.
Here's a warning parable for coin collectors...
Yes
Palladium makes me nervous.
In 2008 I picked up 26 oz for under $300 an oz. One of the best moves I've made. Only time I bought any palladium. Really had no reason for doing it that I remember, except to maybe diversify my portfolio a little. Glad I did though. I still have it all and don't plan on selling anytime soon.
Excellent investment! I don't think this run up is over yet...
My YouTube Channel
Nope. The run-up continues to $1600 now.
Space force
Best place to buy !
Bronze Associate member
Just got a dental crown replaced yesterday. Since the metal portion of the old one is Palladium (more stable with heat and cold), I asked for (and got) the old crown. Now I just have to figure out how to separate the porcelain from the metal and what to do with it afterwards!
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
From CNBC
Palladium hit its highest ever on Tuesday, crossing the $1,600 an ounce mark for the first time as news that Russia is planning to ban exports of precious metals scrap fueled concerns over an already supply-constrained market.
Spot palladium was up .6 percent at $1,593 an ounce, having hit a record high of $1,606 earlier in the session.
"There have been rumours that Russia would restrict exports of some scrap materials. When the market is as tight as palladium is, sometimes such news can take on more significance than it should," said Philip Newman, a director at Metals Focus.
"It comes back to the fact that you have an underlined tight market, where demand is far outstripping global supply."
Russia's trade and industry ministry last week said the proposed ban on exports of precious metals scrap and tailings would last from May 1 to Oct. 31.
Russia is a major producer of palladium, which is used mainly in catalytic converters.
News that China, the world's biggest auto market, will enforce stimulus measures to boost its tiring economy has also helped the case for the metal, analysts said.
Commerzbank attributed the spike in palladium prices to speculative buying interest.
Prices have nearly doubled since their mid-August lows and have already surged about 27 percent this year.
Oil went into backwardation in 2008. Silver went into backwardation in 2011. Palladium is currently in backwardation.
Knowledge is the enemy of fear
From the Duke:
"Gold retains its value
No other currency can match the staying power of gold. It's earliest known use as money was 643 BC, and it's been a form of currency ever since. Empires have risen and fallen, we've gone to the moon and sent probes to Mars, yet gold is still valuable. That's a good sign for people who like stability.
Research from Duke University found that gold's purchasing power has been consistent throughout history. They analyzed the wages of Roman centurions, who were paid in gold, and found that they were "approximately the same as a modern day U.S. Army captain's pay." They also showed that "the price of bread (in gold) thousands of years ago is about the same as we would pay today at an upscale bakery."
Nothing is ever guaranteed in investing, but if you are looking for something to add to your portfolio that is very likely to at least maintain it's value, the Duke thinks gold is a good bet.
hmmmm…......…..wot? Platinum beats Palladium today by $6.00. Yes, yes, yes!!!!!
I knew it would happen.
Platinum and Palladium duked it out again today. Plat +10, Pd +7 Two days in a row. Worries over Pd supplies.
I knew it would happen.
They are still duking it out. Neck and neck on dollar amount increase so far today.
Cool to see two of my four favorites running up the hill together.
Almost 80% of global palladium demand comes from the automotive industry. In the coming years, car sales in leading countries - the USA, China, Europe, are expected to continue to grow. And this will keep palladium at a high level. The palladium market was scarce last year (the shortage was covered by reserves). The fundamental factors of the global palladium market will continue to favor price increases. Gold should be in the portfolio of the investor, because its use increases profitability and reduces volatility.
Welcome and good first post, Andrew.
Welcome Andrew. Hey, can I get a guarantee on that gold-profitability thing?
I knew it would happen.
Gold, in terms of financial assets, is stable. Gold prices rarely soar or collapse. Price fluctuations are quite predictable. This makes investing in gold quite reliable and simple. It is possible to single out the main disadvantage of this asset: You will have to wait long enough to get serious profit.
The world is probably waiting for big economic and political pressures. The stock market is a big bubble. The bubble will burst. The term is not years, but months.
I look at gold as a means of preserving wealth and as insurance against economic turmoil.
Worry is the interest you pay on a debt you may not owe.
Metals are up slightly across the board.
The yield curve is now inverted. (Looks like cash is winning over debt at the moment.)
The Fed has declared no more rate increases this year.
The debt load is high and increasing.
Armstrong says that the hunt for taxes is "on".
Rickards says that now is a good time to be buying gold.
Hmmmm.
I knew it would happen.
“The Fed has declared no more rate increases this year.”
This’ll be interesting.
@Andrew136
to the boards.
My YouTube Channel
Down $97 bucks today! I wonder what's happening?
My YouTube Channel
Roll to the June futures. Gotta love backwardation.
Knowledge is the enemy of fear
nope
this decline is all within Wednesday post midnight
and
it doesn't work that way anyway
Backwardation provides no time time/price support. The June contract was already $30 lower. Do the roll, add a little negative news and willing sellers and bye-bye.
Knowledge is the enemy of fear
But why? I just finished my day and haven't read any news, yet. Off 6%. A bit volatile after a fairly long runup. Could just be normal market retracement. Unless there's a reason.
I knew it would happen.
When the front month rolled there was virtually no difference.
Then today solely after the roll the price goes -100.
And that -100 is relative to the day before's price on the same month's contract.
No need to post screenshots of cme, I have futures quotes on my machine and can see the bloodbath for myself.
Looks like the bubble is finally popping
The whole worlds off its rocker, buy Gold™.
🎱
Knowledge is the enemy of fear
$1,355.10 right now, goodness, it was like over 1600 last week!
My YouTube Channel
$1,336...………….hmmm...………....it always pains me somewhat to admit it, but cohodk had a good observation about the backwardation.
There was a good explanation on a top header at Zerohedge earlier today but now I can't bring it back. hmmmmmm
I knew it would happen.
$1,329.80
My YouTube Channel
Just looked at Kitco, all the PMs are down majorly, rhodium close to 10% and palladium not far behind. Gold is actually doing relatively better than most of the others.
My Adolph A. Weinman signature
My condolences to whoever bought Palladium 2 days ago.
it is what it is.
I would guess it was in bubble territory and we did not know it. I'd think after the first $100 drop that PA would be bought because of the supply constraints, but it lost another $100 on top today.
now the question is where is buying support?
Backwardation is really just another word for bubble. Warnings were issued.
To answer your question look at past backwardations.
Knowledge is the enemy of fear