Perfect storm for price increases in platinum and palladium
Monday, April 15, 2013 0:39
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Most readers are aware that we have been bullish on platinum group metals (PGM’s) for some time now. Please see our fundamental thesis outlined here, and an update on PGM’s published here. As precious metals investors, we can’t imagine a better set of conditions for a breakout in the price of platinum and palladium. Investors piled into platinum and palladium ETF’s during the first quarter, driving their holdings to record highs. More than half of platinum and palladium miners cannot earn their cost of capital at current metals prices, which has already resulted in the world’s largest platinum producer shutting down production.
