NEW YORK ( TheStreet) -- Platinum and palladium could reach around $1,300 and $400 an ounce, respectively, over the next couple of months, according to Commerzbank AG, the second-largest German bank. Currently, LME platinum and palladium for immediate delivery are trading at around $1,524 and $452 an ounce, respectively.Platinum and palladium are used in the manufacture of catalytic converters for automobiles. Platinum and palladium have declined around 12.6% and 20.2%, respectively, from their peaks attained on April 26 and April 21 on concerns related to global economic growth and, in particular, the slowdown in demand for automobiles. Meanwhile, ETFS Physical Platinum Shares ETF (PPLT) and ETFS Physical Palladium Shares ETF (PALL) have declined around 13.0% and 20.4%, respectively, from the peaks reached in April.
Platinum, Palladium: When to Buy
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