Palladium Consolidates Impressive Gains Over The Week Says Pan American Metals Of Miami

(1888PressRelease) Palladium makes highest gains for over a year; is forecast to increase significantly in 2012.

MIAMI, FL - Palladium, perhaps the least talked about of the precious metals, is truly shining at present, having made and consolidated impressive gains over the last week. This was the best week for palladium in over a year, largely due to concerns over future supplies. Russia is reducing its exports of palladium over the next two years as its own stocks of the metal are fast disappearing, likely pushing palladium into a deficit during 2012. Rising production costs are also serving to increase the price of the metal.

"At the end of the day, markets are determined by supply and demand," says Bill Hionas of Pan American Metals of Miami. "When supplies are threatened and demand continues, we can expect to see a sharp increase in price."

Palladium is used in the manufacture of catalytic converters and is therefore heavily dependent on the strength of the automotive industry. Japan's auto industry has been recovering from the devastating natural disasters in March and there has been a noted increase in demand for new cars from emerging economies; even in the US, auto sales are picking up.

Currently trading at around $642 an ounce, predictions from major banks for palladium prices in 2012 are in the $750 - $800 range. Where, in that range, prices will eventually fall will depend on the global demand for new cars. Nevertheless, if predictions are correct, a 20% increase in price for palladium is by no means unrealistic. While all the media headlines focus on Europe, the US economy and gold, palladium is quietly becoming the metal to watch, and invest in.

About us:

Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.

Website: http://www.panamericanmetalsofmiami.com

Press Contact:

Debbie Bailey

Executive Administrator

Pan American Metals of Miami, LLC

Email: dbailey ( @ ) investpanam dot com

Website: http://www.panamericanmetalsofmiami.com

source:

http://www.1888pressrelease.com/palladium-consolidates-impressive-gains-over-the-week-says-p-pr-355871.html

by: Alberto Stellpflug

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