Palladium Freefall

[NGMD]

I wanted to look at holding a few ounces of Palladium as the price was overtaking Gold and rising due to Industrial uses. Artifically too high IMHO. Seems to now yo yo with Platinum but the sharp decline makes me glad I didn’t pull the trigger. 
The million dollar question is that is it worth taking the plunge now? The 1/3 loss from a peak october price (-25% YR)more than covers the VAT.

Any thoughts?

[Stu]

Can’t get past the £400 price for maples when I first started stacking. Never bought but wished I had taken a few. 

[Gordy]

I wouldnt even touch palladium with @James32 wallet!!!! never mind my own...... 

[LawrenceChard]

17 hours ago, NGMD said:

I wanted to look at holding a few ounces of Palladium as the price was overtaking Gold and rising due to Industrial uses. Artifically too high IMHO. Seems to now yo yo with Platinum but the sharp decline makes me glad I didn’t pull the trigger. 
The million dollar question is that is it worth taking the plunge now? The 1/3 loss from a peak october price (-25% YR)more than covers the VAT.

Any thoughts?

This chart only has data back to 2017, but includes a low of about £535

Does that alter your thinking?

😎

[HerefordBullyun]

I ask my AI Chatbot to ask what was the dip in palladium 

this was the response I got - interesting...

Is platinum being used by motor industry instead of pallidium due to the driving costs, if not what metal is being used?

No, platinum is not being used in the motor industry instead of palladium due to driving costs. Rather, some manufacturers are using a combination of palladium, rhodium, and other metals to reduce costs. Palladium is still the primary metal used for auto catalysts, but many manufacturers are using a blend of other metals to reduce costs. Additionally, some manufacturers are using alternative materials, such as ceramic substrates, to reduce costs as well.

 

[NGMD]

3 hours ago, LawrenceChard said:

This chart only has data back to 2017, but includes a low of about £535

Does that alter your thinking?

😎

Lawrence, you have replied on 2 of my posts looking for advice/thoughts and just posted an arrogant reply. I appreciate you own a successful business in this field but how about offering up something, rather than a pompous mocking reply. You’re better than that.

Just my opinion of course.

 

[Zhorro]

On 28/01/2023 at 22:58, NGMD said:

I wanted to look at holding a few ounces of Palladium as the price was overtaking Gold and rising due to Industrial uses. Artifically too high IMHO. Seems to now yo yo with Platinum but the sharp decline makes me glad I didn’t pull the trigger. 
The million dollar question is that is it worth taking the plunge now? The 1/3 loss from a peak october price (-25% YR)more than covers the VAT.

Any thoughts?

Yes, palladium has had a rough time recently:

 

For a while, it was more expensive than gold - its high point was 7th March 2022.  I think the main threat has come from electric vehicles as it was mainly used in internal combustion engines (see video):

 

So, without giving financial advice, I fear the future could continue to be rough for palladium.

 

 

Edited January 30, 2023 by Zhorro
Duplication

[NGMD]

5 minutes ago, Zhorro said:

Yes, palladium has had a rough time recently:

 

For a while, it was more expensive than gold - its high point was 7th March 2022.  I think the main threat has come from electric vehicles as it was mainly used in internal combustion engines (see video):

 

So, without giving financial advice, I fear the future could continue to be rough for palladium.

 

 

Some crazy stuff happening with Palladium and very volatile. You could lose your shirt or earn a fortune depending on which way the wind blows in the industrial sector. If you overlay past performance of platinum and Palladium they follow a pattern of one up, one down and vice versa. Now both down🤪

Risky would be an understatement.

Great Input @Zhorro

[ArgentSmith]

On 29/01/2023 at 16:05, LawrenceChard said:

This chart only has data back to 2017, but includes a low of about £535

Does that alter your thinking?

😎

👇 At the time wifey my personal contrarian indicator wanted to know why Im "spending" money on that c**p?

[LawrenceChard]

3 minutes ago, ArgentSmith said:

👇 At the time wifey my personal contrarian indicator wanted to know why Im "spending" money on that c**p?

She could have bought a Gucci handbag for that, which would now be worth twice as much as your palladium bars.

But seriously, good thinking, and well done!

😎

[NGMD]

1 hour ago, ArgentSmith said:

👇 At the time wifey my personal contrarian indicator wanted to know why Im "spending" money on that c**p?

£159 an ounce. 
That's incredible and hopefully you sold it and got her a Gucci handbag.

I'm steering well clear…… unless it comes down to £159😄

[SidS]

There must have been a shortage in Palladium in the run up to 2020.

I bought 1/10 oz Stillwater round in 2005 for about £40 - Not cheap at the time. I bought it more out of curiosity to be honest. I held it until 2018 or so and then sold it on eBay for about £275 (iirc), which was above market value. So a good profit at the time.

The odd thing was that it was bought by the guys who run (or ran) the element collection company. So I guess they were having difficulty getting hold of platinum group metals to process and sell in their element displays.

Edited January 31, 2023 by SidS