Early April, we reported that HSBC’s James Steel and his team were bullish on palladium prices where global supply is constrained. Steel was expected palladium average prices to reach $825/oz in 2014. This limit was reached last Wednesday and again today.
Palladium prices soared to nearly $800 per ounce, their highest for two and a half years, last month. After staying in the $770~$790 range, it fell today with June futures last trading at $768.75, down 2.8% on the day and recovering
Palladium touched 785 dollars per ounce last Thursday in London, the highest level for an most-active contract since March 8, 2013. Investors are concerned about the consequences of tensions between Russia and Ukraine on the supply of the precious metal,
Of all the LME-listed metals, palladium is the only one not to have decreased since the beginning of the year. Gold and platinum dropped 26% and 10% respectively, copper 14% and aluminum 15%. The London Metal Exchange Index, the composite