Material Matters: Palladium Positives

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"Barclays Capital notes some palladium perks in recent data releases."

Stronger gold prices have attracted most of the attention given to precious metal markets in recent weeks, but as Barclays Capital notes there are some positives for palladium in recent data releases.

As Barclays points out, the pace of light vehicle sales in the US stayed above 12 million units in November, a level seen as psychologically important. If the cash for clunkers months were excluded, the November data would be the second highest monthly selling rate, so confirming customers are returning to the market.

For Barclays the November data bode well for the outlook for 2011 and this should be a positive for platinum group metal demand. Given a current bias towards gasoline, Barclays suggests palladium in particular should benefit.

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