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.
- Commodities may trade negative on Fed stimulus tapering concerns
- Spot gold prices traded on a negative note by around 0.6 percent today on the back of rising concerns of early QE taper after the US lawmakers reached a budget agreement. Also, weak global market sentiments and declining trend in SPDR Gold holdings a
- read more
China's crude oil imports advanced 0.8% year-on-year to 23.56 million tons, or 5.76 million barre..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
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
- Factors that are driving global markets this week
- India Veg Oil imports climb by 35% Y/Y to 944,309 tons in Nov 13
- US Marcellus-Utica Natural Gas output may grow by 3.3Bcf/d in 14 Y/Y
- Indian Railways carry 677.56 mn tons of freight during April-Nov 13
- Shale Gas boom or bumper crop: What will drive the Guar complex?
- Indian Sugar industry should maintain market equilibrium, diversify products: Minister