Platinum, palladium forecasts raised by BOA-Merrill
Wednesday, 20 January 2010
SINGAPORE, Jan 19 (Bloomberg): Bank of America-Merrill Lynch raised its 2010 forecasts for platinum and palladium on stronger demand and the introduction of exchange-traded funds for the metals.
The forecast for platinum was raised 35 per cent to $1,750 an ounce, while palladium was increased 30 per cent to $500, Michael Widmer, London-based metals strategist, wrote in a report yesterday. Platinum and palladium may average $2,000 an ounce and $650 an ounce over 2011 respectively, the report said.
The forecast for platinum was raised 35 per cent to $1,750 an ounce, while palladium was increased 30 per cent to $500, Michael Widmer, London-based metals strategist, wrote in a report yesterday. Platinum and palladium may average $2,000 an ounce and $650 an ounce over 2011 respectively, the report said.