UBS sees further bullishness for PGMs despite recent setbacks
UBS remains bullish on PGMs, with the 2014 platinum price forecast at $1,500 an ounce and 2015 at $1,750 an ounce . The 2014 palladium price forecast of $825 an ounce is unchanged, but UBS raised its 2015 forecast to $875 an ounce from $850 an ounce.
Palladium prices rally 7% in 2014 YTD, hits resistance at $800
With prices unable to breach $800 level, left many momentum investors frustrated. Both platinum and palladium prices have increased in 2014 partially on the back of South African miner strikes and potential supply disruptions in Russia on the back of the Crimean crisis.