Summary: Financial experts are anticipating a big year for platinum and palladium markets as strong industrial demand and a growing supply deficit drives prices up. Although jewelers and car makers are buying less of these metals, demand has been counterbalanced by orders from other industries and investors. From a supply perspective, smaller amounts were delivered out of South Africa this past year because of mine strikes and cutbacks.
Ross Strachan, a commodities economist at Capital Economics, told the news outlet that he believes palladium will rise by the end 2014 to $875 an ounce from its current price of $720, an increase of about 22 percent. He expects platinum to increase to $1,800 an ounce by the close of next year; it is around $1,530 at the moment. Read more…