Within the commodity space, perhaps the most bullish fundamentals belong to the Platinum Group Metals. Both platinum and palladium have similar industrial and commercial uses as well as demand growth, and both suffer from a less than secure supply.
Palladium may be rare, but it is not a precious metal. While volatility in gold prices may affect palladium prices in the short term, palladium should not be beholden to the broad precious metals investment climate.
Late Monday-issued EW wave analysis noted that gold closed lower for the fourth straight session on Monday and that daily momentum was pointed “firmly lower” but that hourly momentum was diverging a bit.