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Hedge Funds, Analysts Predict Decade High Palladium Prices
Oct. 30, 2012 12:44PM PST
Precious Metals InvestingBloomberg reported decade-high palladium prices are predicted by hedge funds and analysts even as investors cut holdings.
Bloomberg reported decade-high palladium prices are predicted by hedge funds and analysts even as investors cut holdings.
As quoted in the market news:
The funds’ wagers on a rally more than doubled since August as ETP holdings slumped to a seven-month low this month, data compiled by Bloomberg show. Prices for the metal used mostly in catalytic converters will average $800 an ounce in the third quarter, 34 percent more than now and the highest since 2001, based on the median of 13 analyst estimates.