BNP Paribas lifts average precious 2011 forecasts

Economic times.com reports that BNP Paribas has raised its’ forecasts next year for precious metals, stating that Palladium has the best fundamentals.

The story is quoted as saying:

‘While we expect the palladium market to be in deficit in 2011 and 2012, there will be a surplus in the platinum market. Moreover, palladium is better placed than platinum to benefit from economic growth in emerging markets, given that its main use is in auto catalysts,” the bank said.

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