Recent global developments have caused commodities experts to raise their price expectations for platinum and palladium, two relatively new options in earth-metals investing.
Used in the automotive manufacturing process and the electronics industry, platinum and palladium demand is increasing due to recent growth in both of these sectors. Added to this are supply issues with the rare metals, which results in a textbook price jump from increased demand and scarcity. The supply problems stem from South Africa, where almost 75 percent of the world’s platinum is produced. Resistance from labor unions plus rising costs has combined to slow production, with palladium production facing similar problems.
Together, these supply and demand conditions have resulted in a price jump for both metals, with platinum jumping to $1,520 per ounce and palladium making a step up to $724. Investors looking to shore up their portfolio with either palladium or platinum should contact Independent Living Bullion for a free consultation at 1-800-800-1865. Independent Living Bullion is a trusted online retailer of platinum and palladium coins, as well as other precious metals.