Palladium prices have popped almost 10% year to date after hitting a low of $395 and a high of $571. Palladium is typically used in auto manufacturing and prices are dependent on car sales and an improving global economic recovery.
The advent of the physically backed palladium exchange-traded fund, ETFS Physical Palladium Shares (PALL), however, has provided an easier way to invest and trade palladium. Since its creation in early January, the ETF has amassed a total of 788,505 ounces of palladium. The more metal ETF Securities removes from circulation, the higher prices rise. Shares have risen 3.2% year to date and the ETF currently has $358 million assets under management.
For investors looking for exposure to a riskier precious metal, many analysts recommend palladium. Soma sekhar Chereddy, analyst at Karvy Global Services, dubs the metal his favorite for 2010.What is your long-term and short-term price target for the metal? Chereddy: In 2010, we
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