Palladium 'running down available inventory' - BMO
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; email@example.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.”