|Bid||260.09 x 900|
|Ask||261.93 x 1000|
|Day's Range||256.50 - 264.93|
|52 Week Range||120.01 - 264.93|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||28.93%|
|Beta (5Y Monthly)||-0.01|
|Expense Ratio (net)||0.60%|
The palladium ETF rallied Tuesday, with palladium prices hitting record highs, even as the coronavirus outbreak threatens to shutdown carmakers and delay industrial plants in China, the world's biggest consumer of the precious metal. The Aberdeen Standard Physical Palladium Shares ETF (PALL) , which seeks to reflect the performance of the price of physical palladium, advanced 6.1% Tuesday while the palladium spot price rose 2.9% to $2,593.8 per ounce. Palladium prices have surged on high demand from automakers seeking to meet stricter emission standards as world governments look to combat climate change and growing pollution levels.
Precious metals such as gold, silver, and platinum are valued by many investors for several reasons, including their rarity and their use in a broad range of industrial applications. Precious metals exchange-traded funds (ETFs), which number 21, are a popular way to invest in these metals.
Tougher emissions legislation and stricter vehicle-testing regimes after the disastrous “Dieselgate” scandal in Germany caused the automotive industry to acquire a record 9.7 million ounces of palladium last year, according to Johnson Matthey, a producer of auto-catalysts. Johnson Matthey calculated that demand outstripped supply by 1 million ounces last year and projected a further rise in automotive demand will push the 11.5m ounce-per-year palladium market deeper into deficit.
As the coronavirus outbreak continues to be the wild card in the markets, the safe haven of precious metals is in high demand, especially for exchange-traded funds (ETFs) that are backed by gold. ETFs have been stockpiling gold as more coronavirus news continues to invade the financial markets. The ETFs trade like a stock but track the price of gold, with the commodity put into storage to back the shares.
While the U.S. markets seem to push the coronavirus outbreak from the forefront of their worries, China continues to struggle with its effects as more cases of the virus surface and claim more lives. This is pushing precious metal prices like gold steadily higher. Asian and European shares were higher overnight as traders and investors at least for now have pushed aside the coronavirus outbreak in China.
The price of palladium has soaring like a rocket -- up 357% from its bottom in 2016. Is it too late to play this lustrous white metal? asks Sean Broderick, contributing editor of Weiss Ratings Daily Briefing.
The Federal Reserve decided to keep rates unchanged on Wednesday and this could be gold’s main driver going forward if the data-dependent central bank deems the economy healthy enough. This could support gold prices even if the market experiences a lull in precious metal purchases after the coronavirus craze eventually fades. Amid the outbreak, it was risk-off for investors as they piled into safe havens like bonds and gold.
Thanks to as much as a 500-point drop in the Dow Jones Industrial Average in Monday’s trading session, it was risk-off for investors as they piled into safe havens like bonds and gold. Gold was on a path of bearishness after a U.S.-China “phase one” trade deal put the risk back into the markets. “After almost three weeks of consolidation, gold has now pushed higher on risk-aversion as the Coronavirus position worsens and the markets move away from risk,” said Rhona O’Connell, head of market analysis for EMEA & Asia at INTL FCStone, in a daily note.
With regulations getting more stringent as the global movement towards cleaner energy gains momentum, its driving demand palladium which is used in emissions control devices like catalytic converters. China, in particular, is stepping up its demand for palladium as new regulations are forcing more consumption of the precious metal.
After soaring more than 50% to rank as one of 2019’s best-performing commodities ETFs, the Aberdeen Standard Physical PalladiumShares ETF (NYSEArca: PALL) is building on those gains in 2020 with a year-to-date ...
Palladium prices and related ETFs have continued to rally and stood out among the precious metals group as growing demand for cleaner vehicles. The Aberdeen Standard Physical PalladiumShares ETF (PALL) gained 8.8% so far in the new year and rose 23.7% over past three months while the palladium spot price now hovers around $2,132 per ounce. The precious metal has benefited from ongoing demand form the car industry for palladium-based catalytic converters on exhaust systems, along with limited supplies out of South Africa and Russia, the Financial Times reports.