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Mineweb reports that palladium and platinum are not moving as expected as gold soars higher.
Mineweb reports that palladium and platinum are not moving as expected as gold soars higher.
The market news is quoted as saying,
The reason for this, of course, relates to the degree of industrial usage in the demand for the precious metals. Gold’s industrial usage is relatively small in relation to its industrial demand. Silver demand is perhaps relatively evenly divided between investment and industrial use, while platinum and palladium have a far stronger industrial element in their demand. And, given that much of the economic uncertainty revolves around fears that U.S. and Western economies may not be recovering as expected, while there are some doubts expressed over Chinese growth being maintained at recent levels, the moves by the precious metals begin to make sense.