Mining Sector Ideas

[gfp927z]

Platinum, Palladium -


Looking at some of the other metals, Platinum is also in the dumps, currently testing key support at 1300. The Palladium longer term chart probably looks the best, though if electric cars catch on globally, demand would presumably dry up since over half of the supply goes to catalytic converters. Likewise with Platinum, though both do have other industrial uses.

The metals continue their swoon today, with gold about to test the key 1200 support level, and silver looking like 17 isn't going to hold. There could conceivably be a bounce at these support areas, then a re-rest, or alternately they may just fall right thru support without a bounce. Looks like silver briefly fell thru 17 as I type.



http://en.wikipedia.org/wiki/Palladium


>>> Over half of the supply of palladium and its congener platinum goes into catalytic converters, which convert up to 90% of harmful gases from auto exhaust (hydrocarbons, carbon monoxide, and nitrogen dioxide) into less-harmful substances (nitrogen, carbon dioxide and water vapor). Palladium is also used in electronics, dentistry, medicine, hydrogen purification, chemical applications, groundwater treatment and jewelry. Palladium plays a key role in the technology used for fuel cells, which combine hydrogen and oxygen to produce electricity, heat, and water.

Ore deposits of palladium and other PGMs are rare, and the most extensive deposits have been found in the norite belt of the Bushveld Igneous Complex covering the Transvaal Basin in South Africa, the Stillwater Complex in Montana, United States, the Thunder Bay District of Ontario, Canada, and the Norilsk Complex in Russia. Recycling is also a source of palladium, mostly from scrapped catalytic converters. The numerous applications and limited supply sources of palladium result in the metal attracting considerable investment interest. <<<