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Mitsubishi: Palladium could test $800/oz

Posted on 18 March 2014

Mitsubishi sees potential for palladium to test the $800-an-ounce level. Nymex palladium futures got above $788 Friday before falling back on profit-taking, the firm says. Support came last week from a 19% year-on-year rise in Japanese passenger car sales, although Mitsubishi adds that this may have been affected by a consumer rush to buy before a rise in the sales tax next month.
Stronger auto sales bode well for palladium since it used for emissions-control systems. “Supported by geopolitical tensions in Ukraine as well as the ongoing South African PGM (platinum-group-metals) mining strike, palladium could make further gains in the coming days, perhaps testing the $800 level,” Mitsubishi says………………………………………..Full Article: Source


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