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Seeking Alpha reports while short-term growth in platinum and palladium markets have been mired by lackluster auto sales, their ETFs could be better off over the long-run.
Seeking Alpha reports while short-term growth in platinum and palladium markets have been mired by lackluster auto sales, their ETFs could be better off over the long-run.
The market news is quoted as saying,
Both platinum and palladium are used in catalytic converters, which account for 46% platinum and 61% palladium demand, according to The Wall Street Journal. As such, the two metals are closely linked to economic cycles in the automobile industry.
According to Barclays Capital, year-to-date short-term interest in platinum has dropped 14% while short-term interest in palladium fell 43%, writes Heather Struck for Forbes.