29.06.2020 PALLADIUM Daily Analysis
Palladium futures soared to an about 14-month high lately. The metal logged its largest one-month price gain in eight-and-a-half years in July with several factors backing it. First, Palladium is used as catalytic converters which put a lid on unsafe emissions from cars. Now, China’s passenger-vehicle sales grew the most in 17 months and hinted at surging demand for palladium from the auto sector. As per street.com, “Palladium supplies are expected to fall by 4% worldwide” while the demand profile is likely to increase 3% In the last four-week period (as of August 10, 2016), ETFS Physical Palladium (NYSE:PALL) Shares ETF PALL topped the precious metal ETF list. PALL added 12.4% in this timeframe followed by 8.6% gains seen in ETRACS CMCI Long Platinum Total Return ETN (TO:PTM) while X-Links Silver Shares Covered Call ETN SLVO returned about 1.6% and X-Links Gold Shares Covered Call ETN (LAGOS:GLD) I) was up about 1.1% (read: Best ETFs of July).