Farmers are doing what they can to survive, even at a significant profit loss… by Ethan Huff of Natural News (Natural News) By now, you have probably heard the disturbing […]
The post Farmers Now Selling Food Directly To Consumers To Avoid Government-Imposed Dumping Of “Excess” appeared first on Silver Doctors.
GossamerAngel posted this magnificent yellow cushion cut diamond ring on the Show Me the Bling forum at PriceScope! What a gorgeous ball of much needed sunshine! This color is fantastic, what color is your favorite? Fancy colored diamonds are a fabulous way to add a pop of vibrant color to your jewelry […]
The post Fancy Yellow Cushion Ring appeared first on PriceScope.
When shopping for fine jewelry, especially engagement rings, it is important to keep in mind the durability of the gemstones you are considering. Durability will not only impact the stone type you choose, but also how you wear your jewelry, when you wear it, and how you care for it.
Palladium has stolen the spotlight from other precious metals lately, at times becoming the highest-priced metal on the market. What has historically driven palladium to new heights, and what might we expect in the future? Find out as you learn more about palladium’s foundational price drivers.
Palladium is a shiny, silverish rare metal. It’s 30 times more rare than gold, and its chemical composition is similar to that of platinum. Mines in Canada, Russia, South Africa, and the U.S. produce the majority of the planet’s palladium. Worldwide, about 210 metric tons of palladium were mined in 2018.
As much as 85 percent of the world’s supply of palladium goes into catalytic converters. Manufacturers—primarily in North America and China—equip vehicles with these emission-control devices to convert toxic pollutants into carbon dioxide and water vapor, which are less harmful to the environment.
Palladium is also used in jewelry, electronics, medical equipment, dental work, fuel cells, and hydrogen purification.
The up-and-down price of palladium this year can be traced to old-fashioned supply and demand.
In general, demand refers to how many buyers desire a product. Supply refers to how much the market can offer to meet that demand. As demand for a product increases, prices rise.
In February 2020, the price of palladium soared past $2,700/ounce, a record high, thanks to significant demand from automakers. But by early May 2020, the price had fallen below $1,900/ounce, still the highest price among the four primary precious metals, as global auto sales slumped. Nevertheless, that price was well above the May 2010 level of around $500/ounce.
While palladium’s price has skyrocketed from 2010 to 2020 and remains far above historic lows, the recent drop from the historic high does represent a buying opportunity.
This year’s decline in auto manufacturing and sales has knocked palladium “out of bed.” But the metal’s price is likely to climb as it continues to benefit from China’s clean air standards, which push “more palladium into every tailpipe in that country,” says R. Michael Jones, CEO of Platinum Group Metals.
Palladium’s trajectory has been similar to that of rhodium, another precious metal.
Like palladium, rhodium—one of the six metals in the platinum group—is commonly found in the catalytic converters of vehicles.
In March 2020, the price of rhodium climbed to $11,500/ounce but then plummeted to $2,750/ounce in early April before rebounding somewhat to $4,200/ounce in mid-May. The roller coaster of rhodium’s price aligns with the price activity of palladium, as both metals are heavily used in the battered automotive sector. But as with palladium, demand for rhodium is expected to rebound while supply continues to be constrained because of recent economic calamity.
It’s somewhat of a well-established trend: “Precious metals used in small quantities by the auto industry have a history of price spikes when demand outstrips supply,” Bloomberg notes.
UBS predicts a palladium deficit of 500,000 ounces in 2020, compared with nearly 1.2 million ounces in 2019. Overall, Bank of America Merrill Lynch remains bullish on palladium in light of this year’s projected output deficit.
In a poll by Reuters, experts anticipate the average price of palladium will be $2,100/ounce in 2020 and $2,150/ounce in 2021. If the long-term outlook for palladium strengthens, as many envision, prices in the neighborhood of $2,100/ounce might be attractive to buyers.
You have many options when it comes to precious metals. Call U.S. Money Reserve to learn more about palladium, along with gold, silver, and platinum.
The post Prime Factors That Push Palladium Prices appeared first on U.S. Money Reserve.
In 1972, an archaeological discovery in Bulgaria revealed the oldest known gold used by humans in the history of mankind. This unprecedented discovery, dubbed the Varna Necropolis, unearthed more gold than anyone in the world had seen at the time of the discovery. If you’re interested in learning more, watch today’s episode of U.S. Money Reserve’s “Did You Know?”
Narrator: (00:07)
The Varna Necropolis is an ancient burial site located in Varna, Bulgaria. The site received mass notoriety after it was discovered in 1972. After its partial excavation, archaeologists discovered over 290 graves, many containing gold and other ancient treasures. Some of these items included sculpted mass, weapons, decorations, and golden beads, pendants, necklaces, bracelets, and pectorals, or armored breast plates used in combat. One specific grave, dubbed Grave 43, contained more gold than what had been found in the rest of the world at the time of the discovery. The findings from the discovery denote one of the earliest instances of civilization in European history. Radiocarbon dating suggests that these graves are created around 4,569 to 4,340 BC. That makes these items over 6,000 years old. To this day, about 30% of Varna necropolis has yet to be excavated, leading many to wonder what kind of ancient mysteries are waiting to be unearthed. Call the number on your screen or click the link below if you’d like to learn more about gold’s place in history and gold’s place in your portfolio.
The post Varna Necropolis: Did You Know? appeared first on U.S. Money Reserve.
Yahoo! Finance: SI=F News
At this time, for opening remarks and introductions, I would like to turn the call over to Michael McDonald, Investor Relations for SSR Mining. Welcome to SSR Mining’s first wuarter 2020 conference call, during which we will provide an update on our business and a review of our financial performance. Joining us on the call this morning are Paul Benson, President and CEO; Greg Martin, our CFO; Kevin O’Kane, COO; and Carl Edmunds, Vice President, Exploration.
The post SSR Mining Inc. (SSRM) Q1 2020 Earnings Call Transcript appeared first on WorldSilverNews.
Yahoo! Finance: SI=F News
The nonprofit oversees 600 or so independent blood centers, which together provide about 60% of blood donations to US hospitals. It tracks the inventory of type O red blood cells in hospitals’ supplies (O positive is the most common blood type, while O negative is less common) as an indicator of total blood supply. Blood donations soared at the beginning of the pandemic, says Kate Fry, the CEO of America’s Blood Centers.
The post Why hospitals fear a critical blood shortage as the US reopens appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Alphamin Resources (APH:JSE) announced Thursday it is raising about $31 million.
The post Tin miner announces $31 million offering for prepayment of debts appeared first on WorldSilverNews.
Kitco News
(Kitco News) – South African gold miner DRDGOLD (JSE:DRD) declared a cash dividend of 25 South African cents per ordinary share on Friday.
The post DRDGOLD declares dividend appeared first on WorldSilverNews.