| The differing market fundamentals of platinum and palladium are more important to its direction that their relationship to the dollar, Citi said. The bank would favour going long on palladium and short on platinum over the next six months, it said in a weekly report. Platinum recently traded at $1,097/1,102 per ounce, up $5 on Friday’s close, while palladium was $2 higher at $749/755.
Reduced expectations for a deficit in platinum this year are weighing on the metal, it said. It sees a rebound in mine supply of close to 20 percent in volumes this year, limiting its projection of a 2015 market deficit to 327,000 ounces – a level easily filled by above-ground stocks...............................................Full Article: Source
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