Palladium Today: Upside price momentum still intact

From fastmarkets.com

Unlike the rest of the precious metals, divestment continues in palladium ETFs. The liquidation of 6,849 oz lowered holdings to 642,650 oz as of July 1. With the spot palladium price near a record high, the allure of locking in profit is understandably high, resulting in the release of stocks into a very tight market. The tight fundamental backdrop remains price-supportive. The market deficit in palladium is set to widen dramatically in 2019 to 809,000 oz from last year’s 121,000 oz, Johnson Matthey reported - and eighth consecutive year of deficit. In fact, the cumulative deficit is set to surpass 5 million oz by ... (full story)