International Business Times reported that according to Carlos Sanchez, director of commodities at New York’s CPM Group, moving forward, platinum and palladium should thrive on increasing investor interest, higher demand and lack of supply.
As quoted in the market news:
‘I think you’re going to have a resurgence of investor interest in these two metals,’ Sanchez predicted at the Inside Commodities industry conference on Monday.
He cited a recovery in the automobile sector, which uses the two metals to reduce toxic emissions, alongside strong demand from electronics manufacturers, who also use the two industrial metals.
‘Globally, demand is picking up, perhaps not so much in the advanced economies, but more so in the emerging markets,’ he said. ’You have, fundamentally, the auto industry picking back up in Europe. It has picked up in the U.S. … [Electronics] manufacturers need platinum, palladium equipment.’