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ETFS Physical Palladium Shares Rises 9.2 Percent in May
May. 24, 2013 10:22AM PST
Precious Metals Investing
ETF Trends reported that the ETFS Physical Palladium Shares (ARCA:PALL) gained 9.2 percent this past month and is up 21.3 percent over the last year, in part due to the fact that consumers are buying more cars. Supply deficits are also helping to raise prices.
ETF Trends reported that the ETFS Physical Palladium Shares (ARCA:PALL) gained 9.2 percent this past month and is up 21.3 percent over the last year, in part due to the fact that consumers are buying more cars. Supply deficits are also helping to raise prices.
As quoted in the market news:
May auto sales are projected to increase 6% to 8%, with annual sales set to rebound back above 15 million vehicles, after a disappointing April result, reports Ben Klayman for Reuters.
“This is the time of year when the automotive industry holds its collective breath as the recent past has dealt with a spring slowdown in demand; however, the current pace suggests full steam ahead for the second half of 2013,” LMC senior vice president Jeff Schuster said in a statement. “Economic and market headwinds have been minimized, while demand continues to build momentum.”
About 90% of palladium produced in 2012 went into catalytic converters for gasoline-burning automobiles, reports Tatyana Shumsky for Barron’s.