Make Kitco Your Homepage

Palladium 'running down available inventory' - BMO

Kitco News

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

As palladium price retreats from record highs, the supply-demand outlook remains in favor of higher prices, BMO writes. “Given automakers’ lack of short-term demand elasticity and higher catalyst loadings, the palladium market is still running down available inventory,” BMO Capital Markets managing director of commodities research Colin Hamilton says. Even higher recycling rates are not going to satisfy the metal’s demand. “Metals Focus estimates that 2.6Moz of palladium with be recycled this year from the autocatalyst industry, up from just 1.5Moz a decade ago,” Hamilton adds.

By Anna Golubova of Kitco News; agolubova@kitco.com

 

Gold benefits as trade war fears hit home — TD Securities 

Thursday October 3, 2019 09:17

The yellow metal is seeing a boost as trade war fears dominate the marketplace, according to TD Securities. “The weak growth signal from the ISM has brought forth fears that the trade war may now be hitting home,” TD Securities strategists write. All eyes are now on the U.S. services PMI print and the U.S. jobs report. Any weakness could secure a rate cut in October and possibility of more cuts down the road. “Particularly weak print could to lock in the October cut and could also prompt a change in language about the prospect of future cuts,” the strategists say. “In this context, money managers have once again taken to gold's warm embrace.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.