Palladium Still the Fairest Precious Metal

BMO Capital Markets made waves last week with the announcement that it’s lowered its price expectations for gold, silver and platinum. That’s bad news for precious metals investors, but luckily there’s still one such metal that the firm believes will do well. That, of course, is palladium.

Though BMO’s report states that a “near-term downside risk” is Norilsk Nickel‘s proposed purchase of US$2 billion worth of palladium from the Russian government, it has nevertheless upped its long-term forecast for the precious metal to $950 from $850.

The reason? BMO anticipates that increased auto demand in countries like China and the US will spur a palladium deficit in the coming years.

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