Platinum and palladium price consolidation likely to continue

IBTimes reports that platinum and palladium were hit last week by the wave of selling that struck the commodities sector.

The market news is quoted as saying,

The platinum price has almost tripled since 2009, while palladium has appreciated in an explosive fashion akin to silver’s development – up from under $200 per ounce in early 2009 to a present spot price north of $700. However, the demand from the European automobile industry could tumble in the coming months according to Heraeus, as the effects of government austerity measures start to take their toll on European consumer demand.

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