Saturday, April 12, 2014

Palladium trading at highest level since 2011

Palladium continues to move higher as the miner strike in SA continues. The metal is looking more and more bullish and appears to have broken out on the weekly chart. From everything I am reading regarding the strike, it appears that even when a settlement is reached the mining companies are going to use the excuse of higher labor costs as a reason to begin shutting down high cost operations and money losing shafts. This will further constrain the supply of pgms and should help to further increase the price. For some reason I could not get the chart to load. You can see the breakout over at my SA instablog here if interested.

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