Last Updated : 20 November 2012 at 23:35 IST
SEB favors PGMs over Gold, Silver in 2013
Source :Commodity Online/SEB
SEB favors platinum and palladium ahead of gold and silver next year, although it cautions that the platinum group metals markets are smaller and less predictable than gold.
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NEW YORK (Commodity Online): The Swedish investment bank SEB said that it favors platinum and palladium ahead of gold and silver next year, although it cautions that the platinum group metals markets are smaller and less predictable than gold.
The supply outlook for the PGMs remains "gloomy," which "may prove problematic if the global recovery were to gather momentum," said SEB in a commodity research note.
Last week's report from PGM authority Johnson Matthey showing platinum and palladium are shifting into supply deficits this year. It shares our view that both platinum and palladium balances will remain strained in 2013, particularly if the (economic) recovery gains momentum, analyst at SEB noted.
"Serious underinvestment in South African mining due to poor profitability has adversely affected both metals, while Russian supply is a major concern for palladium," SEB concluded