Palladium, currently at a near-$700 gap with platinum, with strikes in SA only adding to its momentum
Singapore/London — Palladium’s deficit-driven ascent has some analysts warning of the growing potential for a correction given the rapid sprint upward.
“Palladium has entered into bubble territory,” Ole Hansen, head of commodity strategy at Saxo Bank, said by e-mail. “But as long we see no change in the outlook for tight supply or changing demand dynamics from consumers, the price could go higher.” Commerzbank also issued a warning, saying the commodity “is showing more and more signs of being a bubble.” UBS Group strategist Joni Teves has said there’s scope for deep pull-backs even as market participants now talk about the potential for the metal’s price hitting $2,000.Investors are due for updates on the outlook for the global market as leading producers report earnings this week.
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