Platinum, palladium soar along with auto sales, new South Africa strike


Platinum prices breach $1,500/oz. and palladium futures also jump as better than expected U.S. car sales data and a new strike in South Africa lured buyers into both markets.

Upbeat reports from GM, Ford, et. al. bucked expectations for a slowdown in car sales, boosting investor appetite for platinum and palladium, which are both widely used in car exhaust filters.

Meanwhile, a new strike by metal workers and engineers in South Africa have renewed concerns about supply after the country is still recovering from a five-month strike by platinum workers.

Platinum producers: AAUKF, AAUKY, IMPUY, LNMIF.

ETFs: PALL, PPLT, SPPP, PTM, PGM

Comments (6)
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
     
    Ford was not so upbeat. Sales are off 5.8%. It should have said GM and Chrysler. GM was up 1% despite all the recalls, and Chrysler was up 9.2%.

     

    South Africa just got one strike settled, and now this. And it could spread to even more workers.
    1 Jul 2014, 11:46 AM Reply Like
  • T-time
    , contributor
    Comments (998) | Send Message
     
    I have been saying this for some time. Actually miners and unions in S Africa will stay unorganized for some time and will struggle to find a mutual agreement. Fact is, at current market fundamentals there is no way to please all parties and have a sustainable system. Prices will first have to go up - and their actions are causing exactly that.
    Long SWC - one of the few miners that might come out ahead of all of this!
    1 Jul 2014, 11:56 AM Reply Like
  • Joe2922
    , contributor
    Comments (488) | Send Message
     
    ATL - Atlatsa - should be soaring soon, it must be a relative unknown, they settled with Union last December but are not getting credit for that, nor for their turnaround story with debt restructured at a huge savings to the co., and a new partner which isn't trading its shares. I own a tad of ATL but will add once it gets discovered, only a matter of time!
    1 Jul 2014, 12:52 PM Reply Like
  • spike1
    , contributor
    Comments (54) | Send Message
     
    ATL also has a large number of shares owned by the employees which cannot be sold. Which is a good point with regards to the float.
    1 Jul 2014, 01:46 PM Reply Like
  • Joe2922
    , contributor
    Comments (488) | Send Message
     
    ATL is a small unknown company. I think it needs to be "discovered"! pun meant, yes of course. I think it can generate positive cash flow late this year, that should help a great deal.
    1 Jul 2014, 02:14 PM Reply Like
  • Venus Pool
    , contributor
    Comments (107) | Send Message
     
    Does the fact that money printing in the west have any positive impact on this precious metal? Nawwwww paper and ink with the notion of creating more debt to fix a debt problem will not help the upward price movement.
    1 Jul 2014, 02:00 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs