https://www.miningweekly.com
Gold
Gold
gold

Metal worth more than gold is set to get even more expensive

9th June 2021

By: Bloomberg

  

Font size: - +

Palladium’s surge has given it the title of most-expensive of the major traded precious metals, and its gap over gold may widen as demand buoys prices.

The metal used in catalytic converters hit an all-time high of more than $3 018/oz in May and, even as its rally cooled over the past month, is still more than $900 more expensive than bullion. The spread between the two spiked last month to the widest since its record in February last year and may continue to expand as the global economic recovery boosts consumption.

The global palladium market is expected to be in deficit on a rebound in the auto industry, tougher pollution controls and an unexpected tightening of supply after the world’s largest producer said flooding at its Arctic mines will curb output. It’s a different prospect for gold -- which is little changed this year compared with a 15% jump in palladium.

Gold is set to weaken, and may fall to $1 700/oz at year-end, due to a strengthening US dollar and rising real yields, said Georgette Boele, senior precious metals analyst at ABN Amro.

Edited by Bloomberg

Comments

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.063 0.103s - 93pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: