Palladium Prices Seen Rising to $840/oz in 2011: Societe Generale

Platts.com reports that the price of palladium is expected to rise to $840/oz through 2011.
The story is quoted as saying:

“Palladium’s seemingly inexorable upward march does not come as a surprise in view of the fundamental balance in the market, but the rate of gain has been more powerful than we expected, with the bull run accelerating again towards the end of last year. The price has now lost some momentum and entered a period of consolidation,” analyst David Wilson said in a note published Wednesday.

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