Speculative froth has built up across all precious metals, yet gold’s structural tailwinds will allow it to weather corrections better than its peers.
Silver, platinum, and palladium may ride the same cyclical tailwinds as gold in the coming months. However, four key risks threaten their relative performance versus the yellow metal.
The dollar is breaking down, as capital leaves the US. The important question investors must answer is how much downside is left for the greenback, and whether depreciation will continue in a straight line over the coming months or pause (…
As we anticipated in an Insight we published in May, palladium continues to underperform platinum. Last week, platinum's discount to palladium shrunk to its smallest since August 2018. While the prices of both metals have…
Palladium is by far the worst performing precious metal so far this year. The 30% year-to-date price decline is significantly worse than platinum’s 10% loss and contrasts with higher gold (+8%) and silver (+4%) prices.…
Palladium did not participate in last year’s commodity rally. While industrial commodities such as copper and oil soared by double digits, palladium ended the year 22% lower. However, it is up 23% since the beginning of the…
Highlights While difficult to forecast, the trajectory of global auto sales likely will follow that of GDP growth (Chart of the Week). As a result, palladium’s supply constraints will re-emerge, but its “epic rally”…
Yesterday, BCA Research's Commodity & Energy Strategy service wrote that it expects palladium prices will move higher on the expanding deficit, and backwardation in the forward curve will persist in incentivizing the…
Highlights Supply constraints and unstoppable demand growth – the result of stricter regulations requiring higher loadings in autocatalysts to treat toxic pollution in automobile-engine emissions – will continue to push…
Palladium prices bottomed at $167/oz in the aftermath of the financial crisis and have since skyrocketed to $2458/oz, making it the most expensive precious metal in the PGM space. In annual terms, this constitutes a total return…