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Thread: palladium got some advertising

  1. #1

    Default palladium got some advertising

    Platinum Futures Climb to Record in New York; Palladium Gains

    By Halia Pavliva

    Sept. 27 (Bloomberg) -- Platinum rose to a record for a second day in New York after the dollar fell to an all-time low against the euro, boosting the precious metal's appeal as an alternative investment. Palladium also gained.

    The dollar also slid to a record against a basket of six major currencies. The currency headed for its biggest quarterly slump versus the euro and yen since December 2004. Before today, platinum climbed 19 percent this year, while the dollar has dropped 7 percent against the euro.

    ``Platinum is buoyed by further dollar weakness and word that an investment bank had suggested investors shift away from gold to platinum,'' said Walter Otstott, a broker at Dallas Commodity Co. in Dallas.

    Platinum futures for January delivery rose $4.80, or 0.4 percent, to $1,365.30 an ounce at 9:50 a.m. on the New York Mercantile Exchange. The metal earlier reached $1,366.10, the highest ever.

    Palladium futures for December delivery rose $2.25, or 0.7 percent, to $347.05 an ounce. Before today, the metal gained 1.9 percent this year.

    ``Platinum is rarer than gold and not subject to central- bank selling, but that's why it is priced so much higher too,'' Otstott said. ``I think platinum's neglected brother, palladium, needs to be in consideration. I dare say over half the investment populace don't know anything about it.''

    UBS AG analyst Robin Bhar this week recommend buying platinum instead of gold.

    ``We still favor platinum over gold as a relative safe haven during a potential correction in the precious-metals complex,'' Bhar said in a report today.

    Euro Climbs

    The dollar has reached a record against the euro for six straight sessions. The euro climbed as high as $1.4189 today.

    The U.S. Federal Reserve on Sept. 18 lowered its benchmark interest rate by half a percentage point, more than expected, to 4.75 percent in an attempt to bolster an economy threatened by a housing recession. The cut spurred inflation concerns. Some investors buy precious metals to hedge against rising consumer prices.

    ``I expect the dollar to go lower and precious-metals markets to go higher,'' said Leonard Kaplan, president of Prospector Asset Management in Evanston, Illinois. ``The Fed is going to drop rates again.''

    Deutsche Bank AG, the world's biggest currency trader, this week forecast the dollar will decline to $1.45 per euro by year- end.



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    Ok, im not suggesting that palladium is going to FLY, however it has started to move from 328 2 weeks ago. granted I dont have but a couple ounces of this stuff. I Am on the prowl for it and am SLOWLY getting my hands on some.. I saw that the ebay economy moves this stuff pretty well over 10% above spot so I think I can always dump it on ebay if needed.. If everyone who plays the gold/silver/platiunum markets just bought an ounce of this stuff the price would rise well past 400 IMO.. I base that on how little action this stuff needs two move...


    thoughts?

  2. #2
    Join Date
    Jan 2007
    Posts
    440

    Default no one wanted gold

    For twenty years gold was a barbelic relic . Well today Palladium may be viewed the same way . I have some stashed away as well . I think palladium is undervalued my self.

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