PALLADIUM could be the metal to watch this year, because economic recovery supports automobile manufacturing and purchases.
The metal is used in autocatalysts in petrol vehicle exhaust systems to scrub out noxious gases. So any upturn in the automobile sector, particularly in passenger cars, implies increased demand for palladium.
The platinum price is forecast by Ross Norman at bullion broking firm Sharps Pixley to average US$1,268/oz this year and to range between $1,480 and $1,120. “The good news for platinum is that global car sales continually surprise to the upside, though we remain concerned about easy credit for vehicle purchases in the US and the rising delinquency rates on those loans.
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