This article is over a month old, but imagine what $1,000 palladium would do to shares of North American Palladium…
By Allen Sykora TD Securities looks for platinum to top $2,000 an ounce and palladium to surpass $1,000 by 2013. Both rose with other commodities last week and have risen further this week, with some of the support coming from worries about power supplies in South Africa as Eskom interrupted power to aluminium smelters, TDS says. “Strong demand from automakers and a drop in supply is pointing to a structural shortage in the coming years,” TDS says. “Shrinking secondary supplies left to balance the physical market (are) convincing markets that PGMs, and palladium in particular, have lots of upside. Investment bank chatter about the tightening conditions in the PGMs space is also likely serving as support for the metal, as are geopolitical risks in Africa and rising costs.”
By Allen Sykora of Kitco News; asykora@kitco.com
Source: CommodityOnline
