👉Palladium Rarer & More Expensive than Gold will see Skyrocketing Prices in 2020 up to $3000 oz !!
Channel: GeoStar TV
Date: 2020-03-29

Palladium Rarer & More Expensive than Gold will see Skyrocketing Prices in 2020
Palladium, a silvery-white metal used in cars and sometimes jewelry, has topped gold in commodities trading for the last few weeks. Gold was long the most valuable of precious metals, until, suddenly, it wasn't. When in 12/13/18, an obscure and far less sexy rival called Palladium swung ahead, for the first time in 16 years.After that, the metal continued to run.
Palladium is a very rare metal - gold is twice as abundant. Total world production is only 208 tons a year. But the demand for Palladium is high and increasing. About 1/6 of the world’s production is used to make ceramic capacitors, and the remainder is used in catalytic converters - demand for both products is growing annually. 
Speculators have noticed, making Palladium an investment opportunity, and that always drives the price up.

 
Palladium hits a new all-time record high after surging 9% in a week for its biggest weekly gain since 2001.



 Palladium soared over 9% and 50% for the year to power above the key $2,500 an ounce level for the first time , boosted by a chronic shortage of the precious metal and concerns of supply from major producers South Africa and Russia.
South Africa, which produces two-fifths of the world’s mined Palladium, recently  released data showing its output of platinum group metals including Palladium, fell 13.5% in November compared to the same month in 2018.
The auto-catalyst metal was also pacing for its best week since December 2001, surging more than 16%.

The performance of Palladium seen in recent months and its more than 50% gain in the last year is likely to be replicated by safe-haven gold in the coming months given the very uncertain macroeconomic, monetary and geopolitical backdrop.
Goldman Sachs  says Palladium may surge to test $3,000 before sliding back again.
Palladium’s extraordinary rally has the potential for prices to go on and test $3,000 an ounce, according to Goldman Sachs Group Inc.’s Jeffrey Currie, who twinned that outlook with a clear warning that such peaks wouldn’t last for long as the record levels would cut into demand.
The bull market in Palladium caused by a chronic shortage of supplies has cost the global automotive industry US$18 billion over the past year, according to a new report by U.S. bank Citi.

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