The palladium is going to be one of the most popular trading commodities in near future on the global forex market. It’s generally expected palladium will show better performance than gold and silver in the future. So, the demand of palladium is increasing day by day. The impact of strikes in South Africa, while palladium production decreased with a rapid rise recorded in the price. Since the new year palladium upward trend continues profit about 27.5%. When you look at the technical pricing, 714.90 emerges as a critical support level. This level of profit in the sales of commodities can be seen in the downward transition. We can also observe, RSI indicator is in the overbought zone.
Other precious metal which is Palladium, gold and silver is poised to outperform in the next two years. This metal is used as auto catalyst. New car sales in the expectation of developing countries to grow at an increasing rate in the next two years, strong automobile sales in the United States also support this position. From this perspective, the demand of the metal foot looks healthy. According to many experts, palladium will face with some problems like other commodities on the global forex market which are observed in the past times of market. South Africa produces about 35% of palladium of the world. But if Russia increases the supply of palladium, the production may change place.
- Date: 03 November 2016 Thu 01:07
- Last Added
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