What is going on with Palladium these days? If you look closely at the chart below you will see a low price 15AUG2018 of $847.60 per ounce. Now fast forward to 28FEB2019 and you will see a price of $1,549.10, an 80% increase in price! Is this increase in price just temporary? What is behind this tremendous jump in price?
Market demand by the automotive industry is largely behind the increase in palladium prices, with demand across the board higher in industry and manufacturing. This is a situation where the demand is clearly far greater than the above ground supply, or as the analysts tell us a “structural deficit”. Market analysts expect this deficit grow larger into 2020, and possibly beyond.
Some questions our customers have,
1. Is it too late to get in?
With record palladium prices expected to go even higher in 2019 our investors ask us this question; “is it too late to get in” ? The simple answer to this question is; Absolutely not! Although we do not expect this type of growth long term, we do advocate diversification within the metals portfolio. A well balanced portfolio will help your bottom line or cost average.
2. What are the best palladium products to buy?
For those who want to buy palladium bullion we recommend a variety of products that we feel are of the highest quality worldwide.
- 1 ounce Credit Suisse Palladium Bars
- 1 ounce Pamp Suisse Palladium Bars
- 10 ounce Credit Suisse Palladium Bars
- 1 Ounce Canadian Palladium Maple Leaf Coins
3. Can I put palladium in my Precious Metals IRA?
Palladium bullion coins and bars are a great way to diversify retirement dollars, and currently offers great upside potential. Once the palladium bullion products are placed in your Precious Metals IRA account, it is easy to convert into other precious metals products down the road.