New York — Sometimes the usual rules may not apply. Palladium smashed through $2,000 an ounce to a record as the metal extended a powerful annual advance driven by a sustained global deficit, with market watchers saying the shortfall will be extremely hard to fill.
“In most cases, the cure for high prices is high prices, but not for palladium,” Tai Wong at BMO Capital Markets, said before the $2,000 level was taken out. That refers to the notion in raw materials that a rally induces fresh output, triggering the conditions that then roll back the advance...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.