Palladium Consolidates Impressive Gains Over the Week says Pan American Metals of Miami

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Palladium Consolidates Impressive Gains Over the
Week says Pan American Metals of Miami
(1888PressRelease) Palladium makes highest gains
for over a year is forecast to increase
significantly in 2012. MIAMI, FL - Palladium,
perhaps the least talked about of the precious
metals, is truly shining at present, having made
and consolidated impressive gains over the last
week. This was the best week for palladium in
over a year, largely due to concerns over future
supplies. Russia is reducing its exports of
palladium over the next two years as its own
stocks of the metal are fast disappearing, likely
pushing palladium into a deficit during 2012.
Rising production costs are also serving to
increase the price of the metal. "At the end of
the day, markets are determined by supply and
demand," says Bill Hionas of Pan American Metals
of Miami. "When supplies are threatened and
demand continues, we can expect to see a sharp
increase in price." Palladium is used in the
manufacture of catalytic converters and is
therefore heavily dependent on the strength of
the automotive industry. Japan's auto industry
has been recovering from the devastating natural
disasters in March and there has been a noted
increase in demand for new cars from emerging
economies even in the US, auto sales are picking
up. Currently trading at around 642 an ounce,
predictions from major banks for palladium prices
in 2012 are in the 750 - 800 range. Where, in
that range, prices will eventually fall will
depend on the global demand for new cars.
Nevertheless, if predictions are correct, a 20
increase in price for palladium is by no means
unrealistic. While all the media headlines focus
on Europe, the US economy and gold, palladium is
quietly becoming the metal to watch, and invest
in. About us Pan American Metals of Miami, LLC
is a group of traders, investors and account
executives that combines many years of experience
to help clients invest in bullion. PAMM provides
an individual investment service and is based in
Miami, Florida for convenient access to both
North and South American investors. Website
http//www.panamericanmetalsofmiami.com
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Press Contact Debbie Bailey Executive
Administrator Pan American Metals of Miami,
LLC Email dbailey ( _at_ ) investpanam dot
com Website http//www.panamericanmetalsofmiami.c
om source http//www.1888pressrelease.com/pallad
ium-consolidates-impressive-gains-over-the-week-sa
ys-p-pr-355871.html