Palladium Seen Rising 15% in 2011 as Russian Cargoes Drop

Bloomberg reported that Russia is shipping less palladium to Switzerland, implying a reduction in stockpiles that could drive prices up.

The market news is quoted as saying:

Cargoes to Switzerland, one of Europe’s two main hubs for storing and trading precious metals, fell 12 percent to about 500,000 ounces last year and compare with the two-decade average of 1.3 million ounces, Swiss customs data show.

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