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Palladium Sources May Be Dwindling says Pan American Metals of Miami | |
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October 18, 2011 Palladium is likely to experience problems with supply in the not-too-distant future, suggesting that a significant rise in price could be on the cards. MIAMI, FL - A Russian source states that the country has only 9 tons of palladium in its current inventory and that this would be distributed over the next two years. The remarks have not been backed by Russian officials but it does seem credible that supplies are becoming depleted, which would definitely lead to a rise in the price of the precious metal. Palladium is used in the manufacture of catalytic converters and sees considerable industrial demand. At the same time, it is valued in the jewelry industry, where it offers a cheaper alternative to platinum or white gold. "Palladium is a rare and lustrous silvery-white metal that was first discovered in 1803, making it the "newest" of the bullion metals," says Bill Hionas of Pan American Metals of Miami. "It is in the same group of metals as platinum, but is best known for having the lowest melting point of the platinum group metals. As such it is highly desirable in the automotive industry. It is also used in electronics such as computers and mobile phones." Pan American Metals of Miami is currently showing palladium at $616 an ounce. HSBC has increased its 2012 forecast for palladium to $810 an ounce and long-term forecasts from some analysts go as high as $1000. Earlier this year, palladium reached highs well over $800; a stronger economy, with increased demand from industry could see palladium regain these highs in the coming months. Investors interested in taking a position in palladium should contact Pan American Metals of Miami for further information. About us: Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors. Website: http://www.panamericanmetalsofmiami.com Press Contact: Debbie Bailey Executive Administrator Pan American Metals of Miami, LLC Email: dbailey@investpanam.com Website: http://www.panamericanmetalsofmiami.com Source: http://www.1888pressrelease.com/palladium-sources-may-be-dwindling-says-pan-american-metals-pr-343262.html |
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