I see alot of bullishness lately on the price of gold and gold mining stocks. Makes me wonder, will this spill over to palladium and PAL, or do I unload my PAL and get into gold now. Palladium seems to be going nowhere lately, and Im afraid that will be the case until auto sales show some improvement, and who knows when that will happen.
Of course there are some spill over from the gold investors. Consider that there is a mountain of gold stockpile in the world, but there really isn't much PGM metals in comparison, of course that makes PGM metals much better precious metals than gold to invest in. I can't get gold bugs convinced that PGM metals are better. But at least SOME will be convinced. We only need a very small spill over from the gold investors to drive the PGM metal prices much higher.
It hasn't so far. Gold and Pd both up smartly over the last few years. Pd has not done as well as Pt but it HAS nearly doubled. The problem is that PAL does not follow. The mistake I have made is anticipating that PAL would follow Pd. Wrong so far. I hope it works in the long term. Not pessimistic.... just telling like it is! JMHO
I'm in the same boat. PAL has done absolutely nothing. There is no rhyme or reason for PAL's trading pattern. The only consistent thing about PAL is how irradict it trades. If you time it right, it's a quick buck. However, if you hold, it goes absolutely nowhere. Palladium has not followed the other PGM's and I think the auto industry has a lot to do with that. I'm hoping for some strength to come from the high grade zone. That being said, there have been no updates and we ultimately don't know how expansive it is. It's a stock you have to be in and out or buy and not look at.