Global growth sentiments to favour industrial precious metals: ETFS
ETFS report said that 55% of silver demand comes from industrial use while 65% of platinum demand is for industrial purposes.Among all the metals, silver is the best conductor of electricity, so virtually all electronic components contain some silver. One of the fastest growing industrial demand sources for silver demand is for solar panels.
Forget Gold, go for Palladium: Mahendra Sharma
Mahendra Sharma who runs the site Mahendraprophecy.com told Daniela Cambone of Kitco News that gold prices could hit $1100 to $1000 levels by year end when palladium would move swiftly from $700 to $1000 levels on par with platinum.
Platinum, Palladium riding high on European, China auto sales
European auto catalyst demand remains a key area of demand for platinum, second only to Chinese jewelry demand. Additionally, Amplats, the world's largest platinum producer cited cash operating costs of US $1,740/Oz- approximately 21% above the current spot price.
Platinum and Palladium uptrend: It's all about China
According to ETFS, continued strength of China economy should be positive for both platinum and palladium. China's platinum consumption for jewelry has been higher than Europe's platinum consumption for automobiles since 2009.
Platinum mines labour strikes may lift prices: ETFS
It is interesting to note that palladium prices are essentially the same as November 2011 despite the fact that global vehicle sales have increased about 17% over the period, indicating potential for some catch-up.
Key events to watch this week