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| Home : Pan American Metals of Miami Reports Palladium Making Significant Gains Following Central Banks' Action |
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Dec 05
2011 |
Pan American Metals of Miami Reports Palladium Making Significant Gains Following Central Banks' Action |
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Outlook for both palladium and platinum is more positive following better news on European front. |
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MIAMI, FL - As all the precious metals rose sharply following the news Wednesday of a joint central bank and Federal Reserve intervention to help struggling European nations, only palladium continued to make noticeable gains again both yesterday and today. Now, leading independent precious metals consultancy GFMS is forecasting palladium prices to reach between $750 and $800 in 2012. Where palladium falls in that range will depend, to a large extent, on the continuing demand for new cars.
GFMS also predicts that platinum will trade between $1700 and $1800 next year, which would also represent a strong gain over current prices. The unknown factor is the likely state of the European economy and how this will impact on car sales. Both palladium and platinum are used in the manufacture of catalytic converters and therefore demand is heavily dependent on the strength of the automotive industry. However, the US automotive industry posted higher than expected sales for November.
"Palladium, in particular, has a lot of room to grow," says Bill Hionas of Pan American Metals of Miami. "It was definitely underpriced below $600. It is interesting to see healthy forecasts for platinum and palladium in the coming year. There is ongoing investment demand for these two metals also."
Sources of platinum and palladium ore are extremely rare and both metals may be undervalued at the moment. Clients interested in taking a position in platinum or palladium should contact Pan American Metals of Miami for further information.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.panamericanmetalsofmiami.com
Press Contact:
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey@investpanam.com
Website: http://www.panamericanmetalsofmiami.com |
| Source:http://www.1888pressrelease.com/pan-american-metals-of-miami-reports-palladium-making-signif-pr-355862.html |
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