i ahve been messing around with scrap recycling for PM's the past month or so. In that time I have mainly done platinum, silver and gold. Largely silver, then gold then platinum. However I have gotten a significant amount of palladium as well. And i was wondering is palladium scarce? do you think the price will go up? What are its most common uses? I am decididng whether I should hold or sell. All charts tell me that palladium is overpriced currently, but I have no background on this metal any information is appreciated. I dont currently need the money from the palladium, so I am in no rush to sell and it came for no cost to me. So all opinions appreciated.
Over half of the supply of palladium is used into catalytic converters, the remainder is used in dentistry , jewelery making / watch making , electronic coverings and various other minor uses High of 579 and a low of 159USD in the past 5 years it currently trades at 400 USD changed -37 in the past two days. It has steadily risen since last February "aside from the market dip that was felt these last two days due to the past announcements". I would have to agree with you that Palladium is under evaluated and if you have no need for liquidity at the moment I would hold onto it for the next quarter to six month. This is just my opinion though , just like everyone that will chime in to give their opinion we can all just speculate
The most undervalued of the metals in the asset class is silver, watch for 50/oz and above. Plus you can gain a lot of leverage with a lot less $
I disagree. Silver has never gone to $50 or near there without a fradulent scheme like we saw in the 70's. There's more chance it will go to $5 then $50, but I don't think eithe will happen. I feel confident in saying that it likely remain below $25 in the near future. If it gets to around $20, I'll be selling. And hold onto palladium. I see it going $500+ soon due to the recovering economy and the fact that India and China are having more indivduals who are able to afford cars.
Silver has more industrial uses than any other precious metal. Look at mining stocks, if they are not making money now the only way they can is by increasing the Price of the product they sell, silver.
The trouble is, silver is mined as a surplus stock in other mining operations, such as copper, lead, zinc. The silver comes as a bonus. The price isn't considered, as the stocks are concerned with what is mined. The price of gold to silver is more related to the cost of producing the final product. Gold is expensive, silver comes as a bonus to other mining, so it is cheaper.
I'm long 5000+ silver eagles and I'm ok with 10+ years. It's a winner. I can't spend the money and based on inflation alone it's a winner.
I'm long too. You can't keep taking something in limited quantities out of the ground, and expect it not to run out at some time. If you look at the quality of gold some of these explorations come up with they say something like 64g/T. So, 64 grams per ton of rock is considered good, huh?
Agree 100%. I buy metals almost daily and at least weekly. I mix it up ultra rarities, moderns graded and bullion, lots of bullion.
I am long also but just on the two most traded PMs. A few years ago a nurse where I work got a hot tip from her brother to load up on palladium. At the time it was $318 and fast moving upward. I seroiusly considered buying some Canadian one oz. palladium coins when it was $325 then again considered at about $340 each. Anyway two things happened. Someone somewhere leaked that the US mint was developing plans to make one ounce palladium eagles fairly soon. If buying I wanted American. Secondly a thread I started here about this tip to buy palladium turned sour and got locked [nuked] by the boss. -anyone just see the WHO? '"meet the new boss- same as the old BOSS". whatever, anyway I never did buy the Canadian palladium. So now at $401 or so I missed the boat.
So hold is the consensus? I would buy but I have a couple ozs that ive recovered so far and many more to ocme. Sounds like palladium is explosive...
