Palladium to rise by 40.0 pc in 2010
Tuesday, 19 January 2010
NEW DELHI, Jan 18 (Commodity Online): Even as the world is now turning to commodities following the recession, analysts claim that most of the investors are now looking for precious metals which are expected to soar in this year.
Analysts suggest that prices for precious metals will increase by 21 per cent in 2010, led by a 40 per cent increase in the cost of palladium to $370/troy ounce from $264 in 2009.
Platinum is projected to increase to an average $1,442/oz, a 20 per cent gain from $1,200 in 2009.
The platinum group metals, which include rhodium, are projected to rise in price because of improved demand from makers of automotive catalytic converters. Rhodium is seen increasing by 19 per cent to a transaction price average to $1,723/oz from $1,445 in 2009.
Analysts at JP Morgan Securities see equilibrium in demand-supply fundamentals for gold in 2010 but expect prices for gold and silver to remain volatile and rise from global inflation trends and dollar depreciation expectations.
The consensus price of 2010 gold is $1,225/oz, up 26 per cent from $972 in 2009, while silver is seen rising 15 per cent to $16.90/oz from $14.70.
Analysts suggest that prices for precious metals will increase by 21 per cent in 2010, led by a 40 per cent increase in the cost of palladium to $370/troy ounce from $264 in 2009.
Platinum is projected to increase to an average $1,442/oz, a 20 per cent gain from $1,200 in 2009.
The platinum group metals, which include rhodium, are projected to rise in price because of improved demand from makers of automotive catalytic converters. Rhodium is seen increasing by 19 per cent to a transaction price average to $1,723/oz from $1,445 in 2009.
Analysts at JP Morgan Securities see equilibrium in demand-supply fundamentals for gold in 2010 but expect prices for gold and silver to remain volatile and rise from global inflation trends and dollar depreciation expectations.
The consensus price of 2010 gold is $1,225/oz, up 26 per cent from $972 in 2009, while silver is seen rising 15 per cent to $16.90/oz from $14.70.