Wednesday , December 12 2018
Home / argentina / What is palladium? Miner, who in sixteen years experiences gold for the first time

What is palladium? Miner, who in sixteen years experiences gold for the first time



Sustained supply shortages, coupled with strong demand and growing interest from speculators, have boosted prices of palladium – metal, which is mainly used in vehicle emission reduction catalysts – from $ 832 per ounce in mid – August to $ 1,263.56 on Wednesday.

Palladium traded at a price of more than $ 25 an ounce of gold on Wednesday, in sharp contrast to two years ago, when the grapple was twice as expensive.

While, Gold stays around $ 1,235, because this year has largely lost the dollar due to escalating trade between the United States and China in connection with rising interest rates.

The expectation that investors may be affected in times of growing economic uncertainty and protectionism can turn gold into a shelter. Palladian profits also overshadowed platinum, the most well-known sister metal, which they had overtaken by 2017. Both are mainly consumed by car manufacturers for catalysts, but platinum is used more in diesel vehicles that have fallen into disgrace since the 2015 eruption of the Volkswagen emission scandal.

Deliveries of major manufacturers such as Russia and South Africa also do not end, analysts said. Metal consultancy Focus said it expects global palladium demand in the automotive industry to reach record values ​​of about 8.5 million ounces in 2018.

Unlike platinum, palladium benefits from a changeover to petrol engines and growth expectations for hybrid electric vehicles, which are usually petrol. This has helped the metal to largely ignore the decline in car sales around the world, especially in China, the world's largest automotive market, where sales recorded the fourth consecutive month of declines.


Source link