What is the reason Palladium's spot went up so much

Does anyone have any reason why this metal went up so much and so fast?

 

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Supply and demand.

 

I agree.

 

Agree too. Was about to buy an ounce online but didn't really know where I could sell it back. I had questions about liquidity.

 

i think most dealers that handle the big three GOLD.SILVER AND PLATINUM
also handle PALLADIUM, i will be buying some in my next order unfortunately
there arent as many choices as the others as far as types.

 

Blind screaming guess: Did the Mint commit to making a one-ounce palladium coin today?

 

I will scream if you will...LOL

 

Dang, and here I thought it was sunspots.

 

So no one knows why? Supply and demand, hmm and no news what the demand for it is to warrant such a jump in spot.

 

The Palladium market is having a stagnating supply (apparently for at least the last 5 years), while there is a growing international demand for the metal.

basic Supply & Demand / Economics 101 looks to be at play.
Though there should be a ceiling. With what appears to be a 70% utilization in the automotive sector for the metal, there are 2 other alternatives. And once that price gap is breached watch automotive switch to one of the other metals, thus lowering the Palladium market demand.

 

I am curious about the spike, there has to be an event that triggered it

 

Do research. Find the answer that you want.
There's plenty of "news" blogs out there

such as this one: http://info.sharpspixley.com/news/pgm-news/

I would think your exposure to Silver and Gold price tracking leads to the same questions, with no real answers.

 

Actually global events trigger price spikes and hikes back in the early 80,s
China dumped millions of tons in copper on the market causing the price
to drop by almost half !!

 

This may be more descriptive and to your liking
http://www.kitco.com/news/2017-06-0...s-7-to-Highest-in-16-Years-Gold-Retreats.html

 

another article to read
https://www.bloomberg.com/news/arti...mmodity-is-one-of-the-smallest-metals-markets

 

Palladium plus +37.50 Today !!!! my kind of numbers !!

 

I have been following platinum, palladium, and rhodium for some time now. Not as an investor, but as a chemist. I recall ordering rhodium to use as a catalyst in the lab and at that time (late 80's early 90's) it was well over $4,000 an ounce. We would store it under lock and key. On the other hand, palladium was considered one the cheaper catalysts - less than $100 an oz. We would store palladium on our bench top along with the rest of the common reagents. At that time, I would never have thought that the price of palladium would be the same as rhodium and at about $1,000 per oz. Since that time, there was a lot of research done to employ cheaper metals (like palladium) in place of rhodium. Rhodium has become "extinct" whereas palladium has been put in the spotlight - at least in the chemistry lab. There was much interest in "exotic" metals during that time, but I have yet to see samarium on the market. I can see neodymium rise in value - it makes for a powerful magnet. Silver is slightly attracted to neodymium magnets - it makes for a crude test for silver coins & bullion. You can get them cheap from Amazon.

 

Not Discussing Politics, but the direction of the EPA seems to be the direction of reducing the need of palladium and even platinum in catalytic converters , so I would more bet on this being a coordinated effort of dealers to reduce their physical holdings at their price until they see a stronger reason. Of course its use in other areas might be expanding.Jim

 

Jim, catalytic converters are probably where most of the platinum or palladium is used in industry. The chemical industry uses its fair share of these metals, but, for many reactions, platinum and palladium are easily recovered (recycled). Rare metals have always played a serious role in chemistry. I was just ranting about my days as a lab rat. But I still find it hard to believe how the price of rhodium plummeted. In any case, I know almost nothing about the economics of precious metals (or economics in general). I wish I were more knowledgeable and I appreciate your reply. I have learned a lot by reading forum threads here. I have collected coins my entire life, but now I am just becoming seriously interested in buying bullion.

 

The automotive industry for years has been trying to find ways to cut there costs
And rely on cheaper more readily available metals and techniques to do this so
Far no success, if they ever did find something PM,S would be in the tank for sure !