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Trading news
16 Mar 2020
Precious metals: Short on all cylinders – TDS
Precious metals with more exposure to industrial demand, and with a smaller beta to monetary policy and safe-haven flow, feel the most pain during the current market environment, economists at TD Securities apprise.
Key quotes
“A recessionary demand environment could still force palladium down another $500-600 to around $1,200/oz as supply-demand balances loosen from previous record tightness.”
“The massive selloffs across the precious metals was enough to shift momentum signals, with both silver and platinum are now short on all cylinders, and palladium selling is also underway.”