The following charts on the palladium price indicate to me that we are witnessing a correction down cycle for this commodity.
The upward momentum in other precious metals like gold seems to have paused and the outlook for electric vehicles will dent the catalytic converter consumption for palladium.
I still believe the last thing the Russians will be wanting in the future is a low cost Aussie producer entering their market in the coming years.
I’ve taken some risk off the table this week, but will be watching very closely for the exploration updates and/or a turnaround in trend for this commodity price.
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The following charts on the palladium price indicate to me that...
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$1.55 |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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2 | 17076 | 1.525 |
1 | 20000 | 1.515 |
2 | 25100 | 1.510 |
10 | 54288 | 1.500 |
Price($) | Vol. | No. |
---|---|---|
1.545 | 9737 | 1 |
1.550 | 17142 | 3 |
1.580 | 5000 | 1 |
1.590 | 15000 | 2 |
1.595 | 18328 | 2 |
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