Palladium prices may rise further to $725 an ounce

Published: Jul 18, 2016 10:54

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TD Securities sees more upside still in the cards for palladium even after it rallied some 24% from the late-May lows to where it left off in trading on Wednesday.

UNITED STATES July 15 2016 5:25 PM

NEW YORK (Scrap Register): TD Securities sees more upside still in the cards for palladium even after it rallied some 24% from the late-May lows to where it left off in trading on Wednesday.

“We would not be surprised to see palladium test the highs near $725 an ounce recorded back in October 2015,” said analysts at TDS says.

The metal rallied 2.5% on Wednesday due to increased risk appetite and speculation about more monetary stimulus in China.

Given that Chinese auto sales which drive palladium auto-catalyst demand have picked up already in recent months, it is reasonable to assume that new stimulus could accelerate this trend and tighten this market.

Palladium prices

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