Go for Boom Metals, Palladium and Platinum
Source: Commodity Online, Geena Paul††(4/1/10)
". . .in the months to come platinum and palladium will be the best bet for you."
Yes, palladium and platinum are industrial metals that will always show upward trend when the global economy is on a high and when automobile sector is showing rise in sales.
So, at a time when global economy is recovering fast, gold is showing a tendency to fall while platinum and palladium are in a high. And, in the months to come platinum and palladium will be the best bet for you.
Over the past year the price of palladium has risen from a low of $214 to its current price of about $477. Itís currently more than $100 off a five-year high established in early 2008, and thereís every reason to expect the price to move higher as the global economic recovery gains steam.
Palladium also reflects the health of automobile manufacturers because more than half of the annual production is used in the production of catalytic converters.
ETFs Physical Palladium Shares and ETFS Physical Platinum Shares are the only physical bullion funds dedicated to the two metals, both of which are excellent ways to bet on improving global economic health. Both funds are also quite liquid with tight spreads despite being recent market entrants, a clear demonstration of investor demand.
With the global recession, the price of platinum tanked by 66% to $774 an ounce from early 2008 highs of $2,250/oz. It is still 40% off its high and the fundamentals are more compelling today than a few years ago. And, analysts say platinum prices will go beyond $1,900/oz. in a couple of years.
Every investor should now look for platinum and palladium instead of the traditional gold, which will very soon see some slump.