TSXV:NAM - Post Discussion
Post by
CatamaranFund on Jan 27, 2022 4:49pm
Palladium rising as Russia/US tensions continue
As we head into a potential European crisis. All precious metals are down, with the exception of Palladium which rose over 2% higher:
Palladium: US$ 2320.00 up +58.00
In 2020 - Both Russia (91 metric tons in 2020) and South Africa (70 Mtons) were the 2 top producers of Palladium, with Canada third (20Mtons) followed by the USA (14Mtons) then Zimbabwe (12Mtons)
Neils Christensen, (Kitco writer) commented today that "...investors are worried that rising tensions between the U.S. and Russia over Ukraine could limit the supply of palladium, which is an essential metal for the Auto sector."
"In our opinion, Russia could retaliate to possible sanctions imposed by western countries by restricting or indeed suspending palladium exports entirely," Daniel Briesemann, precious metals analyst at Commerzbank.
Of course Palladium investors beware
"Nicky Shiels, head of metals strategy at MKS PAMP SA said that while palladium prices have room to move higher, the move on geopolitical uncertainty could fade."
Reference link:
https://www.kitco.com/news/2022-01-27/Palladium-sees-volatile-action-up-1-as-Russia-U-S-tensions-continue-to-rise.html
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