Uh huh!
From CNBC today:
Palladium was up 0.3% at $1,845.80 an ounce, after hitting a new high of $1,861.71 earlier in the session. The metal has been breaking records daily since Nov. 25.
"Palladium positioning is slightly counter-intuitive to the price action, implicitly confirming heavy OTC interest from the long side," INTL FCStone analyst Rhona O'Connell said in a note. "After weak longs were shaken out in early November another push to the upside is now approaching resistance from the uptrend."
Concerns that supply of the metal used in car exhaust systems could run out has helped to lift prices by more than 47% this year alone, despite a weakening auto sector.
Nice Miles. I don't watch CNBC that often any more so surely would have missed this. A nice bump today happening. Waiting to see if it holds or continues the up tick today.
edit to add
Yes it did hold. UP $13.00 to another new high of Bid $1,834 / Ask $1,859
Thanks @cagcrisp. I wonder how sales are going. No update since November 3rd cumulative sales report. Later to day will be a $250 increase from the opening price. You think these are still selling?
Up today so far of $15.
@Kudbegud said:
Thanks @cagcrisp. I wonder how sales are going. No update since November 3rd cumulative sales report. Later to day will be a $250 increase from the opening price. You think these are still selling?
Up today so far of $15.
I would assume there still those chasing Spot and continue to purchase...
Palladium, used mainly in catalytic converters in vehicles, jumped to a record high of $1,869.57 in the day, extending gains for a ninth straight session. The metal has jumped about 48% in 2019 on a sustained supply squeeze, despite a weakening global auto sector. However, some analysts said the metal was bound for a correction.
"We continue to think that palladium price increases are not justified by the fundamentals, and that prices will fall back," ABN Amro analyst Georgette Boele said in a note, adding she expects prices to dip to $1,450 by end-2020.
Elsewhere, silver shed 1.9% to $16.83 an ounce.
Sorry, my crystal ball is in the shop being polished. Ya know it's coming just not when. I bailed on my Pd bullion back when it was $900. Yeah, if I had known I would have waited. Still I made a profit. Now my only Pd is in these US Mint issues and Dan Carr 2011 Winged Liberty Heads and not as bullion.
The beauty of this rising Price, continually by the way, is that anybody that bought this recent RP from the Mint is very close to their original cost.
My lowest cost on the reverse proof was $1789 NGC from Pinehurst.
Finally, a nice bump of $16.00. Was tired of the $1 or $2 jumps. Better than down ticks but sort of a tease. Today was good. Continuing the every business day this month new record high trend. AND the first time close above $1,900 Ask.
Regarding the crazy palladium price increases. They ran out of reliable electricity in South Africa so the deep underground mines get power shut off at times. That has really cut back South Africa production of platinum and palladium. Tougher emissions standards in the world require more to be used in cars and especially large SUV's.
Platinum will maybe finally start to move up some. I can't believe I should have kept the scratched palladium one I got from the Mint. Oh well.
Wow. Up to $1914 right now. I did not see this much of a rise coming this year.
I am happy and happier for my Palladium Eagles, though.
You are right, even a pocket piece would be a keeper. Or seller.
Yeah... amazing. It broke $1,800 on November 27th. Two weeks to break $1.900. The coin started @ $1,987.50 and @cagcrisp called Wednesday's new price of $2,287.50 up $300 from issue price. If you go back to the 2017 and 2018 coin issue price of $1,387.50 that's $900 increase to today's issue price. 2020's price is going to be beyond most collectors limit.
@Kudbegud said:
Yeah... amazing. It broke $1,800 on November 27th. Two weeks to break $1.900. The coin started @ $1,787.50 and @cagcrisp called Wednesday's new price of $2,287.50 up $500 from issue price. If you go back to the 2017 and 2018 coin issue price of $1,387.50 that's $900 increase to today's issue price. 2020's price is going to be beyond most collectors limit.
@Kudbegud said:
Your are right @cagcrisp. Must have been a senior moment brain fart. I corrected my post above. Thanks.
My basic thread was the big jump in Palladium price in a relatively short period of time.
We have moved up $200 since the last Mint production and sales report...SO...IF we ever get sales numbers, we will have no idea what prices those coins were purchased...
I called Mike White's office at the mint. The person who answered said they were having a personnel shuffle which effects the sales report posting. But she gave me the number for 19EK 2019 AM EAGLE PALLADIUM PROOF 1 OZ - 15,534
@Kudbegud said:
I called Mike White at the mint. The person who answered said thy were having a personnel shuffle but gave me the number for 19EK 2019 AM EAGLE PALLADIUM PROOF 1 OZ - 15,534
Thanks..That's more than I would have thought. That would be 727 sold in 5+ weeks.
From November 26th till yesterday there has been a business day up tick every day. 13 days in a row. November 26 started the run with a $13 jump to $1,791 . A $134 increase to yesterday close.
Cmon. Who thought that Palladium would be nearing $2000 before Christmas?
Nice gift to those that purchased from the Mint at entry level price or we able to pay less through dealers.
@BackroadJunkie, I'm thinking the decision had a lot to do with the high spot price. A big hit Friday of -$73 couldn't overcome the steady rise over the past months. The annual Palladium Bullion Coin could be over for good.
Comments
New High for Palladium
I got distracted and missed the close by an hour and 54 minutes but the current price can show the close today.
Palladium Breaks The $1,800 Barrier
Add back the $2 loss shown and you get $1,816 bid, $1,841 ask
Another day, another record close.
Wow!
A small gain of $1.00 but still
A New Record
Uh huh!
From CNBC today:
Palladium was up 0.3% at $1,845.80 an ounce, after hitting a new high of $1,861.71 earlier in the session. The metal has been breaking records daily since Nov. 25.
"Palladium positioning is slightly counter-intuitive to the price action, implicitly confirming heavy OTC interest from the long side," INTL FCStone analyst Rhona O'Connell said in a note. "After weak longs were shaken out in early November another push to the upside is now approaching resistance from the uptrend."
Concerns that supply of the metal used in car exhaust systems could run out has helped to lift prices by more than 47% this year alone, despite a weakening auto sector.
Nice Miles. I don't watch CNBC that often any more so surely would have missed this. A nice bump today happening. Waiting to see if it holds or continues the up tick today.
edit to add
Yes it did hold. UP $13.00 to another new high of Bid $1,834 / Ask $1,859
Another small gain but a NEW RECORD CLOSE again.
The 2019 Reverse Proof Palladium will be re-priced this afternoon between 1 and 3 PM ET to $2,237.50...
Thanks @cagcrisp. I wonder how sales are going. No update since November 3rd cumulative sales report. Later to day will be a $250 increase from the opening price. You think these are still selling?
Up today so far of $15.
I would assume there still those chasing Spot and continue to purchase...
More CNBC, today:
Palladium, used mainly in catalytic converters in vehicles, jumped to a record high of $1,869.57 in the day, extending gains for a ninth straight session. The metal has jumped about 48% in 2019 on a sustained supply squeeze, despite a weakening global auto sector. However, some analysts said the metal was bound for a correction.
"We continue to think that palladium price increases are not justified by the fundamentals, and that prices will fall back," ABN Amro analyst Georgette Boele said in a note, adding she expects prices to dip to $1,450 by end-2020.
Elsewhere, silver shed 1.9% to $16.83 an ounce.
Record Breaking Continues
Up $13 today
A new question - can the upward trend continue to $1,900 BID? It's past the halfway mark from $1,800.
Yup. Why not. Just do it.
Yawn ## Another Record
Another day, what's new? Another record Palladium record close, what else.
experimented with a 125% save of the Kitco snip. Keep doing it?
One Step Closer To $1,900
Today's gain of $5.00 is of course a new closing record.
When do we expect a “correction” on Pd?
Sorry, my crystal ball is in the shop being polished. Ya know it's coming just not when. I bailed on my Pd bullion back when it was $900. Yeah, if I had known I would have waited. Still I made a profit. Now my only Pd is in these US Mint issues and Dan Carr 2011 Winged Liberty Heads and not as bullion.
Funny, I bought as near junk a 2005 Panda 1/2 oz Pd coins and now has a bit of bullion value....
Well, just Love coins, period.
The beauty of this rising Price, continually by the way, is that anybody that bought this recent RP from the Mint is very close to their original cost.
My lowest cost on the reverse proof was $1789 NGC from Pinehurst.
Guess What ? - - - Another record close, that's what.
I'll bet you can't believe it but it's true.
I can't but damn it makes me smile!
Finally, a nice bump of $16.00. Was tired of the $1 or $2 jumps. Better than down ticks but sort of a tease. Today was good. Continuing the every business day this month new record high trend. AND the first time close above $1,900 Ask.
Any updates on a 2020 bullion or proof palladium issue?
My US Mint Commemorative Medal Set
The 2020 will be an Uncirculated Palladium...
The 2019 Reverse Proof Palladium will be re-priced this afternoon between 1 and 3 PM ET to $2,287.50...
What's in these Palladium coins.......Helium??
Regarding the crazy palladium price increases. They ran out of reliable electricity in South Africa so the deep underground mines get power shut off at times. That has really cut back South Africa production of platinum and palladium. Tougher emissions standards in the world require more to be used in cars and especially large SUV's.
Platinum will maybe finally start to move up some. I can't believe I should have kept the scratched palladium one I got from the Mint. Oh well.
My US Mint Commemorative Medal Set
Wow. Up to $1914 right now. I did not see this much of a rise coming this year.
I am happy and happier for my Palladium Eagles, though.
You are right, even a pocket piece would be a keeper. Or seller.
The Trend Continues
Another nice positive jump today. +$17.00
Going over $1,900 Bid is a real possibility tomorrow.
Currently $1945!,
Who woulda thunk?
Double Grand, next stop.
Yeah... amazing. It broke $1,800 on November 27th. Two weeks to break $1.900. The coin started @ $1,987.50 and @cagcrisp called Wednesday's new price of $2,287.50 up $300 from issue price. If you go back to the 2017 and 2018 coin issue price of $1,387.50 that's $900 increase to today's issue price. 2020's price is going to be beyond most collectors limit.
Kudbegud, The coin Launched at $1,987.50...
I think he meant when I paid for it through Pinehurst!!
"up $500 from issue price"...
Your are right @cagcrisp. Must have been a senior moment brain fart. I corrected my post above. Thanks.
My basic thread was the big jump in Palladium price in a relatively short period of time.
We have moved up $200 since the last Mint production and sales report...SO...IF we ever get sales numbers, we will have no idea what prices those coins were purchased...
I called Mike White's office at the mint. The person who answered said they were having a personnel shuffle which effects the sales report posting. But she gave me the number for 19EK 2019 AM EAGLE PALLADIUM PROOF 1 OZ - 15,534
Thanks..That's more than I would have thought. That would be 727 sold in 5+ weeks.
Bid Goes Over $1,900
A $29 up tic did it. Ask is already half way to $2k.
It Ended Today
From November 26th till yesterday there has been a business day up tick every day. 13 days in a row. November 26 started the run with a $13 jump to $1,791 . A $134 increase to yesterday close.
The Start Of A New Streak ?
Well, it's a big up tick today from Friday's streak breaking loss.
+$45.00 !
Cmon. Who thought that Palladium would be nearing $2000 before Christmas?
Nice gift to those that purchased from the Mint at entry level price or we able to pay less through dealers.
The 2019 Reverse Proof Palladium will be re-priced this afternoon between 1 and 3 PM ET to $2,337.50...
Second day of profit taking after the record close.
And bullion exchanges is selling these for $50 over spottage..
The 2019 Reverse Proof Palladium was re-priced this afternoon at $2,387.50...
There was a 15 minute window I wasn't sure of.
I Missed the window...
Despite a health down adjustment of $32.00, Palladium stayed above $1,900 Bid by $1.
Coin World reports there will be no 2020 Palladium bullion coin this year. (Well, next year, but it's close enough.)
Extensive slate of bullion coins from U.S. Mint in 2020
@BackroadJunkie, I'm thinking the decision had a lot to do with the high spot price. A big hit Friday of -$73 couldn't overcome the steady rise over the past months. The annual Palladium Bullion Coin could be over for good.