Hedge Funds Bullish on Palladium

Bloomberg reported that though gold and silver are still suffering, expectations that palladium will be in deficit for the next few years mean that hedge funds are “holding a near-record bullish bet” on the precious metal.

As quoted in the market news:

Demand will exceed output by 1.33 million ounces in 2013, more than North America produces in a year, Morgan Stanley says. Credit Suisse anticipates deficits through at least 2016, and researcher CPM Group says mines won’t catch up for a decade. Prices will average $800 an ounce in the first quarter, 10 percent more than now, and $850 in 2015, the median of as many as 12 analyst estimates compiled by Bloomberg show.

Click here to read the full Bloomberg report.