Visitors Now:
Total Visits:
Total Stories:
Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Palladium Is The New King Of Precious Metals

Thursday, December 1, 2016 11:36
% of readers think this story is Fact. Add your two cents.

(Before It's News)

The only palladium ETF, the ETFS Physical Palladium Shares (NYSE:PALL), absolutely destroyed gold and silver in terms of performance in November.

The outperformance of palladium — which surged 24% last month versus major losses in the yellow and silver metals — almost calls into question the traditional balance of the precious metals markets themselves. Just take a look at chart below, which compares PALL to the two most popular gold (GLD) and silver (SLV) ETFs (courtesy of Google Finance):

palladium-gold-silver

What’s behind palladium’s surge? ETF Trends has a few ideas:

Palladium has been rallying over recent months due to improving car sales and signs of strength in the U.S. economy.

Earlier this year, palladium also found support from the ongoing surge in the precious metals group, led by gold, as global central banks cut interest rates and implemented more aggressive accommodative measures to stimulate growth – low borrowing costs help support precious metals since the hard assets don’t offer yields while depressing the U.S. dollar, in which the metals are priced.

Other factors pushing palladium higher while gold and silver languish include rising investor sentiment, better auto sales, and lower metal inventories. Some analysts believe that palladium is hands down the best metal to own for 2017, and it’s hard to disagree given its recent outperformance.

PALL shares were pulling back a bit on Thursday morning, down $1.76 (-2.39%) to $72.00, but have still gained nearly 33% year-to-date, versus a 19% and 10% rise in SLV and GLD, respectively.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.