Soaring Palladium Prices
Dillon Gage urges physical holdings to capitalize on full benefit of rally
ADDISON, Texas (Jan. 15, 2019) – Dillon Gage Metals, one of the world’s largest precious metals wholesale firms and industry-leading technology innovator, is bullish on the price of palladium, which recently broke through the $1,342 an ounce level of resistance.
While most precious metals investors are wooed by the attention of gold, palladium can often be an overlooked asset. However, its widespread use in the automotive field, the majority of which is used in emission-reducing catalytic converters for gasoline-powered cars, leaves it susceptible to varying degrees of supply and demand. On Wednesday, Jan. 9, palladium hit an all-time high.
“To see a $400 jump in spot price over the last six months is impressive,” stated Terry Hanlon, president and CEO of Dillon Gage Metals. “Palladium is simply reacting to the tightening of supply, which is the driving force behind the increase. We offer physical palladium in the form of bars or coins and feel that owning the physical product is advantageous to equity-based precious metals assets.”
The demand for palladium has been on an upswing since the Chinese government recently announced the exploration of policies designed to increase domestic buying of automobiles. According to Dillon Gage Metals’ spot price index, palladium is currently trading at $1,337/oz. Owning palladium in its physical form is advantageous to equity-based assets due to liquidity, portability and the flexibility to buy or sell in smaller quantities.
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Posted by:
Jack Dempsey , President
401 Gold Consultants LLC
jdemp2003@gmail.com