Palladium, the most expensive gem metal, can become even more expensive against the background of growing demand, writes Bloomberg.
In May, the price of palladium reached a record value – more than $ 3,018 per troy ounce, and, despite some decline in the last month, this metal is still almost a thousand dollars more precious than gold. The gap between palladium and gold last month has become the most significant since February last year and may increase even more against the background of the reduction of the global economy.
The Palladium market is expected to be a deficit to which the growing needs of the automotive industry and more serious environmental control. Expected difficulties with deliveries will be made on the background of suspension of production in the mining manufacturer’s mines – “Nickel”.
At the same time, gold some experts predict further price reduction: According to the analytics of the valuable metals market ABN AMRO Georgette Metal, by the end of the year this metal can chef to $ 1,700 per troy ounce.
However, the reform of the Russian National Welfare Fund (FNB) may result in a sharp increase in demand for gold: it is planned that during the month the share of gold will grow due to the abandon from the dollar.