Home InfoVault Market Reports Platinum And Palladium Plummeted - Market Report For 06/13/2014

Platinum and Palladium Plummeted - Market Report for 06/13/2014

Platinum and Palladium Plummeted - Market Report for 06/13/2014
Category: Market Reports
Author Name:
Posted: 06-16-2014 10:39:00 AM

Yesterday was quite a day, as platinum and palladium plummeted with the announcement that South African mine workers have accepted a new wage proposal from the mine operators.

Yesterday was quite a day, as platinum and palladium plummeted with the announcement that South African mine workers have accepted a new wage proposal from the mine operators. Both metals have been up and down this week as a deal seemed imminent one day followed by talks collapsing. Yesterday saw both metals fall by nearly $40.00 as long positions were liquidated on heavy volume. Both rallied impressively in Asia overnight, as Chinese demand was reported to be very good, but the rally was met by selling in Europe and this morning finds both in negative territory in early U.S. trading.

Gold and silver have continued to rally as the situation in Iraq and the Middle East evolves, with crude oil prices continuing to rally. Along with the geopolitical influences, gold and silver have benefited from economic data that certainly questions the state of the U.S. economic recovery. This week has brought us a very poor reading on retail sales during a time of the year where retail sales are normally strong and there was an increase in weekly unemployment claims which was not expected by economists. Gold and silver, like platinum and palladium, tried higher overnight, but are back to unchanged in early U.S. trading. Trading should prove to be interesting today and potentially quite volatile, as many positions in all four precious metals have been exited this week and I expect many of those market participants to reenter the market as early as today.

© Copyright 2018 ModernCoinMart (MCM). All Rights Reserved. We encourage the sharing and linking of our information but reproduction of our news and articles without express permission is prohibited. Instead of reproducing, please provide the link to the original article or use the share buttons provided.

About The Author

Roy Friedman

This editorial has been prepared by Roy Friedman of Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing.

This editorial is republished by MCM with permission from Dillon Gage Metals. It is not intended, nor should it be taken, as investment advice. No warranty as to the accuracy or validity of comments made within this editorial is expressed or implied by MCM or its staff. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals.

What are your thoughts? Platinum and Palladium Plummeted - Market Report for 06/13/2014