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SPOT MARKET IS OPEN
closes in 4 hrs. 53 mins.Feb 12, 2020 12:06 NY Time
| Bid/Ask | 1568.60 / 1569.60 | |
| Low/High | 1561.40 / 1570.90 | |
| Change | +1.10 | +0.07% |
| 30daychg | +21.20 | +1.37% |
| 1yearchg | +258.20 | +19.70% |
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Silver Price & PGMs
Feb 12, 2020 12:06 NY TimeKitco 10AM Silver Fix
| Silver | 17.51 | -0.10 |
| Platinum | 966.00 | -4.00 |
| Palladium | 2317.00 | +51.00 |
| Rhodium | 9550.00 | 0.00 |
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( Kitco, Wed. Feb. 12th, 2020) – The palladium market was in a supply/demand deficit of more than 1 million ounces in 2019, and the shortage is expected to be even worse in 2020, said Johnson Matthey Wednesday in a report on the platinum group metals.
Meanwhile, sister metal platinum was in a slight deficit last year, but may end up in a surplus in 2020 unless there is substantial investment demand for the metal, Johnson Matthey said. Platinum is undervalued and has shown an increased ETF demand revealing investor interest at these levels.
Palladium prices rose sharply in 2019 and are up again in 2020. Analysts generally have cited strong auto-catalyst demand that is causing a continuing wide supply deficit.
“The palladium market deficit widened to over 1 million ounces in 2019, as combined primary and secondary supplies grew only modestly, while auto-catalyst demand surged higher on the back of new [emissions] legislation in China and more stringent testing regimes in Europe,” Johnson Matthey said.
The palladium deficit is likely to deepen in 2020, as an increasing number of Chinese and European vehicles meet China 6 and Euro 6d legislation, respectively,” Johnson Matthey said. “This is expected to drive up global average loadings on gasoline catalysts and could lift world automotive demand above 10 million ounces.”
As a result, prices are likely to remain high, Johnson Matthey said.
“There may now be some short-term potential for thrifting and substitution in the automotive industry, but this is unlikely to be enough to prevent demand from rising again in 2020, with both Europe and China expected to see further increases in average palladium loadings on gasoline cars this year,” said Johnson Matthey.
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Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com