Hedge Funds, Analysts Predict Decade High Palladium Prices

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.

Click here to read the full Bloomberg report.