Loading ...Upside Down Precious Metals
Ever since I can remember
Platinum was the most valuable precious metal.
Followed by Gold
Followed ( a distant third) by Palladium
Well NoW Palladium is $200 an ounce more valuable than Gold AND TWICE as valuable as Platinum.
And …while Gold and Platinum are correcting hard here…Palladium is Undeterred.
WTF ?
@RealDavidJensen offers a plausible hypothesis:
1. “Palladium London lease rates indicates metal shortage is driving current #Palladium price surge – even after moving from $500/oz to $1,660/oz over the past 3 years”
https://twitter.com/RealDavidJensen/status/1176508415574593537
2. “Palladium 1-month fwd swap rate. Price backwardation in #Palladium is increasing. Metal shortage in London”:
https://twitter.com/RealDavidJensen/status/1176516089330618368
platinum topped when diesel engines were being phased out, so now when they retool for using platinum in lieu of palladium, these two metals should reverse, probably good idea to watch for it