Pd touched 800.
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Pd touched 800.
Ending price, 2010: $800.00 ! ;D
Not a bad year for Palladium!Quote:
Originally Posted by JohnQPublic
Here we go again! :)
http://www.kitco.com/LFgif/pd1825nyb.gif
hard to believe that for once, i timed the purchase of something PERFECTLY. ;D
Yeah, and then comes the tragic boating accident! ;)Quote:
Originally Posted by chad
Pd holds up incredibly well in this day of PM doom...
January 18, 2011 12:22 GMT
Platinum and palladium recorded the second consecutive year of positive returns, rising +20.5% and 97.2% respectively, in 2010. Recovery in the auto sector and robust investment demand for precious metals were key reasons for the impressive performance. PGMs remained firm in the first 2 weeks in 2011 with platinum rising to 1833, the highest level since July 2008, and palladium to 825.1, a level not seen since March 2011. PGM prices should continue to perform well this year as driven by strong African rand and supply shortage in the palladium market.
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We are more bullish on palladium than platinum as the demand/supply outlook for the former is tighter. While there lacks information on Russia's palladium stock sales, the consensus view is that Russian stocks have almost depleted. Over the past few years, sales from Russian state stockpiles reached were 0.9-1M oz, the 3rd-largest contributor to world supply after mine output from South Africa and Russia. If Russia continues to draw a similar amount from stockpiles this year, the palladium market will be at small surplus. If Russia has indeed exhausted state inventories of the metal, the market will definitely be in deficit. In any case, strong production growth in gasoline-fuelled light vehicle will drive the metal to deficit in the medium-term.
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According to the China Association of Automobile Manufacturers, China's vehicle sales may grow +10% to +15% this year after surging +32% to 18.06M units in 2010. Robust growth in Chinese auto demand will be driven higher per capita GDP and increase in passenger car density from the low base. In the US, recovery in the auto market as macroeconomic outlook improves will also benefit palladium.
Johnson Matthey said in an interim report that platinum will be in surplus by 290 000 oz in 2010 while the market had anticipated a deficit year due to EU incentive schemes and low mine supply. We expect platinum to remain in surplus in 2011 as increase in vehicle production will be offset by lower jewelry demand and greater level of recycling. That said, platinum price will be supported by higher import costs and appreciation in 2011...
http://www.ibtimes.com/articles/1020...s-in-2011.htm#
Timberrrrrrr!
[img width=600 height=380]http://www.kitco.com/images/live/plad.gif[/img]
The last peak in Pd doesn't look as "perky" as previous peaks, does anyone know if this has any significance. Obviously it is not a blow off top, which is good, but could it signal that Pd is going to consolidate for some time?
Oil is going to 200$, less people will be buying new cars, less Pd demand.SHTF is around the corner and clean air won`t be a priority.
Yes $200 oil would dampen the demand for new cars.Quote:
Originally Posted by Antonio
atricle on platinum and palladium:
is here
Following that article, there was a very interesting comment, regarding how Norilsk nickel is changing how it is extracting nickel from the ore of which Palladium is a byproduct. Apparently the new process involves fine grinding the ore, to extract close to 100% of the nickel, compared to previously 70%, however this means that very little palladium will be extracted, and right now the Norilsk mine account for around 40% of worlds Pd supply at around 2.2-2.3 million oz. The author Mark Anthony believes Norilsk will only get out around 1 million oz of Pd, with the new process in place, a major reason for the new process being implemented is also environmental concerns. Sorry, I couldn't copy his response, but I recommend anyone to go in and read the article and the responses!Quote:
Originally Posted by G2Rad
Yes it has consolidated now for 5 months or so.... If it closes well above around $770-780 I think the wedge pattern that it has formed is broken, and from a purely technical standpoint it could very well, soon be up to a thousand or more, however it should break out of the wedge soon, otherwise its 3 year parabolic pattern is soon to be broken, and we should see a big fall...Quote:
Originally Posted by Neuro
Looks good today. We could very soon see $1000+ Pd!
Back above 800. ;D
YES! 1000 Palladium is coming soon! ;DQuote:
Originally Posted by osoab
http://www.kitco.com/reports/KitcoNe...0110609_b.html
Market Nuggets: Nymex Palladium Options Volume Sets Record High
09 June 2011, 2:47 p.m.
By Kitco News
http://www.kitco.com/
(Kitco News) -- Nymex palladium options hit a daily volume record of 2,278 contracts Wednesday, reports CME Group, operator of the exchange. The tally surpassed the previous record of 2,000 contracts set on Nov. 8, 2010.
By Allen Sykora of Kitco News; asykora@kitco.com
--------------------------------------------------------------------------------
Market Nuggets: Standard Targets $950 Palladium On Basis Of Palladium-Adjusted Auto Sales
09 June 2011, 9:54 a.m.
By Kitco News
http://www.kitco.com/
(Kitco News) -- Standard Bank still targets $950 for palladium based on expectations for palladium-adjusted auto sales. The bank notes that auto sales alone do not totally reflect palladium demand. “To correct for the skewed usage of palladium in different auto markets, we weight auto sales per region by the amount of palladium consumed in auto catalytic converters in the specific market,” Standard says. The bank says 2010 palladium-adjusted auto sales were low but improved, while 2011 sales are matching 2010. Further, a seasonal pick-up is expected toward year-end. “We believe that our palladium-adjusted auto sales numbers in 2011 should get close to 2007 levels, driven largely by sales growth in China,” Standard says. The bank concludes: “One of the main driving forces behind the palladium-adjusted auto sales being better than platinum-adjusted auto sales is that China consumes more palladium for auto use. We still target $950 for palladium, and believe that the fundamental floor is at $700.”
By Allen Sykora of Kitco News; asykora@kitco.com
--------------------------------------------------------------------
Market Nuggets: HSBC: Calls For South Africa Nationalization Could Affect Mine Investment
09 June 2011, 7:57 a.m.
By Kitco News
http://www.kitco.com/
(Kitco News) -- Calls for nationalization of mines in South Africa could offer support for gold and platinum group metals, even though government policy so far is not to nationalize mines, HSBC says. Analysts note that the leader of the African National Congress’ Youth League has reiterated his view that mines should be nationalized. Also, a film in favor of nationalization, "Mining for Change: A Story of South African Mining," is showing at the Encounters South African International Documentary Film Festival in Johannesburg and Cape Town. HSBC notes that the ANC previously abandoned a policy of nationalization under Nelson Mandela’s administration in the early 1990s, although a black empowerment program calls for 26% of the mining sector to be black-owned by 2014. “Even though senior ANC officials have rejected nationalization, repeated calls from the youth wing and more radical elements of the party may be enough to deter investment in the mining sectors, thereby reducing gold and PGM output to below levels that would otherwise be the case,” HSBC says. “Given South Africa’s massive gold and even greater PGM reserves, this could have long-run bullish consequences for prices.”
By Allen Sykora of Kitco News; asykora@kitco.com
So auto industry demand of Pd is up this year. Meanwhile South African miners may/will not invest in maintaining production, due to political threats. Further from my comment above, Norilsk is changing it's production method to favour environment and Nickel production, with far less Pd as a result, from 2.2 M oz to 1 M Oz. South Africa and Russia has, what, 70-80% of world production of Pd currently? Further Russia may be out of their strategic stick pile of Pd...
Seems we are in a perfect storm/short squeeze condition for Pd. The sky may very well be the limit...
Looks set to go hiGHER anD HIGHER!
http://www.kitco.com/LFgif/pd1825nyb.gif
Ouch, hard drop the last few days, now trading at $759, if it doesn't hold here it could very well drop down to high 500's in short order, especially if it breaks 700...
Palladium sale!Quote:
Originally Posted by Neuro
Holy crap!! Up 30.00 so far today!
Up another $15 to $841. Palladium doesn't care about any debt deals.
What a difference a couple of months can do! Right now Pd is in the 580's, down some $25 today. If they manage to inflate the world economy again, it could be a good play.
Just eyeballing the 5-year chart Pd should have a pretty strong support in the high 500's. If it goes below 550-570 I wouldn't dare predicting where the bottom is, but it could very well turn here...
Trade gold for Palladium anyone?
Wait for it...wait for it...Quote:
Originally Posted by Neuro
Palladium and Platinum are looking awefully cheap. But this EURO fiasco could cause a short term dollar spike and further weakness in the metals, especially the aforementioned. Long term Paladiumand Platinum are a strong buy - they are definitely going much higher in the future. I'm watching them and ready to pounch.
How do I get some palladium... is it radioactive?
You'd have to find someone interesting in selling at this price.Quote:
Originally Posted by Neuro
http://www.bulliondirect.com/nucleo/...(1.00_oz).html
Apmex is pretty low on small Pd. 6 @ 1ozt (generic), 9 @ 1/2ozt.
They do have 13 @ 10 ozt., and 2 @ 1kg.
As for Pt, they are promising 198 @ 1ozt (Scotia) for Oct. 14th
They have on Pt Koala for $299.99! Grab it (?). A bit pricey.
They have 7 @ 1/10th ozt Isle of Man Pt coins for $226.
Ebay- no Pd (other than some "grain" bars, and one 1 ozt Pamp for $800). Little bit of Pt.
Yes, yes it is.Quote:
Originally Posted by ximmy
So if you buy any, make sure to wear your lead gloves when handling it, ok?
I was just on ebay, typed "palladium bullion" (auctions only, time ending soonest). The only thing available were some one grain "coins". Very strange. There are usualy several Pamp suisse and other palladium bullion. SIlver was pretty slim, too ( a lot of silver, but mainly one ozt.. No 10 ozt. coming through for 10 hours).
Big gain today in Pd, up $29 to $641, I am not sure but I think the bottom is in, the good thing is that PGM's tend to hit its peak and bottoms earlier and recover quicker than Silver and Gold, we still may have another good buying opportunity in Silver, in the mid-higher 20's...
Starts to look good again, needs to get over the downward trendline at the high 700's before going to da moon, though...
Yes, it has consolidated for 'some' time now (1.5 years), but it looks like it is about to break out from it's long downward penchant formation. Does anyone still has Pd? I still have my 1.5 oz of Pd. Maybe I'll get buried with it... ;DQuote:
Originally Posted by Neuro
^ I gots Pd. Spot was 220 when I bought in '04, been a wild ride, but it's unfortunately the lowest performer of the Au Ag & Pd I bought all same time in '04. Up 2.6% today, not sure what if any news is driving this, metals complex is otherwise not moving much.
New York Spot Price http://www.kitco.com/images/lightgreen.gif MARKET IS OPEN
(Will close in 5 hrs. 57 mins.)Metals Date Time
(EST)Bid Ask Change Low High http://www.kitco.com/market/images/buy.png http://www.kitco.com/images/graph_down.gif GOLD 09/10/2012 11:18 1732.40 1733.40 -2.90 -0.17% 1726.20 1734.40 http://www.kitco.com/market/images/buy.png http://www.kitco.com/images/graph_down.gif SILVER 09/10/2012 11:18 33.75 33.85 +0.07 +0.21% 33.29 33.94 http://www.kitco.com/market/images/buy.png http://www.kitco.com/images/graph_down.gif PLATINUM 09/10/2012 11:18 1601.00 1609.00 +13.00 +0.82% 1587.00 1614.00 http://www.kitco.com/market/images/buy.png http://www.kitco.com/images/graph_down.gif PALLADIUM 09/10/2012 11:18 669.00 675.00 +17.00 +2.61% 655.00 677.00
Yay, spot was $220 when I loaded up the truck in April 2009. So you lost 5 years there ;)... Anyway I still think Pd has the potential to be your biggest gainer among your 2004 purchases. I think the sentiments in the Palladium crowd must have been very low in the last 6 months. But it is an essential metal for many industrial processes, and the annual consumption /production is exceedingly small, so it is entirely possible that Pd can reach $10.000/oz shortly...Quote:
Originally Posted by PatColo
A few years ago I only bought 2 1-ounce bars of palladium.... about $240 each. Sure wish I could have bought a few more.
i too bought around $220 or so. seems like it should be higher than it is.
It is on its way! now up to $700! South African mine strikes and prospect of money printing to infinity is rocket fuel for Pd... Could very soon, within even a few days be at $800...Quote:
Originally Posted by chad