BUSINESS DAY TV: ‘Precious metals are set for a year of anomalies’
Peter Major is from Cadiz Corporate Solutions.
BUSINESS DAY TV: Commodities have been sold off over the past couple of sessions with investors banking on a steadier political and economic climate in Europe and a rate rise in the USA in June, and that seeing the dollar getting momentum. Looking at the precious metals price performances in particular, gold steadying near seven-week lows today while platinum has also taken a hit, having fallen by the close. Peter Major of Cadiz joins me in the studio now to take a closer look. Peter ... interestingly enough we have Thompson Reuters releasing its GFMS Platinum Group Metals Survey for 2017 and being highlighted, is having averaged just over $1,000/oz between 2007 and 2012, the price gap between platinum and palladium has continued its drop to now $100. And that illustrates the support a deficit in the palladium market is providing right now, so is palladium heading to a premium over platinum in your books? PETER MAJOR: I wouldn’t have believed it but it’s getting so close now, it’s l...
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