Platinum, palladium expected to soar on strong fundamentals
Dec 30, 2009 | 07:58 AM
| Anne Riley
With rampant supply disruptions and surging investment demand, platinum group metals (PGMs) are slated to soar in the New Year, according to players in the precious metals market.
An unpredictable supply situation is the key factor behind the anticipated firming of platinum and palladium prices in 2010, sources said. The majority of PGM supplies comes from South Africa, a country plagued by supply disruptions in recent years due to ongoing energy shortages and labor disputes.
"With prices recovering and some of the currencies stabilizing, there's a better outlook for supply but, broadly speaking, it's the same old story across commodities—real supply has been declining for a number of years. A big part of this is, of course, the South African situation and the issue of power, principally the supply of energy to the major mines in South Africa," said William Rhind, head of sales and marketing at ETFS Marketing LLC, the U.S. arm of London-based ETF Securities.....
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