Palladium discussion, monster breakout from trendline, up 20% fast
Goldminers
Posts: 3,917 ✭✭✭✭✭
Palladium has gone from $900 to $1,100 in the past 11 days.
No way that it is demand for the US Mint 2024 palladium eagle coin causing all this optimism, but it did go on sale Sept 5th. I did force myself to buy a graded 70 to keep my set complete. Only 2,454 sold so far, so it is scarce due to the insane Mint premium.
I think perhaps China has decided to stockpile some for future auto low emission use, or traders got short squeezed in the futures market as the USD dropped. Regardless it is much rarer than gold and maybe some of that is getting into play. This could go to $1,500 next year with some more publicity as lower interest rates decrease the value of the dollar.
Platinum continues to frustrate, but it could follow soon, so keep a close watch on it, as we may be in for a PM commodity super cycle for many years.
Comments
Platinum is a tougher material. Palladium is mined in the US, platinum is not. Both are important catalysts, neither is as important as silver.
I knew it would happen.
Has Russia stopped dumping palladium?
Knowledge is the enemy of fear
can i finally sell these catalytic converters ?
50 basis points baby!
Those catalytic converters will be getting real pricey. 