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Platinum: Improved investor sentiment on PGMs and anticipated increases in physical investment purchases in 2016 have prompted an upward revision to our platinum price forecast from the last quarterly review.
Lower mine supply from South Africa this year and an uncertain outlook for scrap flows amid a weak steel price environment are expected to result in tighter market fundamentals.
The platinum market is expected to experience a deficit of 195,000 oz in 2016, following a surplus of 54,000 oz last year.
Palladium: Today, understanding palladium is more important than ever because there are important correlations between the palladium/gold ratio and stock market prices.
Currently, the ratio of palladium to gold is giving warning signals for both the economy and the stock markets.
As a commodity, palladium bullion has ISO currency codes of XPD and 964. Reputed investment bank Societe Generale revised up the projected price for palladium in 2016 from $550 to $575 per ounce and in 2017 from $600 to $700.
Technically XPDUSD: D1 is in mid-term rising trend below its 200-day moving average. Previously it has formed the “double bottom” technical pattern near the support of the channel on the daily chart.
