2014 has been full of surprises no doubt, but if you asked investors at the the beginning of the year what the best performing precious metal would be by November, how many do you think would’ve guessed palladium?
However, as the chart below demonstrates, “palladium has been the clear winner, outperforming the rest of the group and the only one that is positive year to date.”
And what’s more, palladium’s winning streak looks to keep charging ahead. According to the Shanghai Metals Market, some analysts believe the future of the white metal is looking bullish.
Its price activity was impressive this summer, and though it recently hit a slump, dropping nearly $200 to $729 per ounce, it’s currently sitting in the $750 range, with analysts believing it’s poised to move higher.
One possible reason: the booming automotive industry. “As goes the auto industry, so does palladium.”
Read more on metal.com
Chart courtesy of investing.com