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Commodities Week Ahead: Oil On The Ropes; Gold Eyes $1,600

  
By Investing.com (Barani Krishnan/Investing.com)Jan 27, 2020 05:17AM ET
www.investing.com/analysis/commodities-week-ahead-oil-on-the-ropes-gold-eyes-1600-200501668?comment=16194417
Commodities Week Ahead: Oil On The Ropes; Gold Eyes $1,600
By Investing.com (Barani Krishnan/Investing.com)   |  Jan 27, 2020 05:17AM ET

Heine commented on this article:

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Heine Pedersen
Heine Pedersen Jan 27, 2020 6:31AM ET
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What on earth is going on with platinum?
Barani Krishnan
Barani Krishnan Jan 27, 2020 6:31AM ET
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Simple: China is in a virus meltdown. China is the single largest maker and consumer of cars in the world. China has also been the largest buyer of palladium, the raw material for the catalytic converters in cars. With China facing its biggest crisis in years, there is risk aversion in almost every industry, particularly auto, which is a bellwether of the economy. Palladium had been rising like there's no tomorrow, largely on Chinese buying, and the bubble had been frightening to many people. A 25% premium within two weeks is certainly questionable for any asset. So, palladium is having its own meltdown now, just like the rest of China. Hope this helps.
Barani Krishnan
Barani Krishnan Jan 27, 2020 6:31AM ET
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Likewise, platinum had been getting some wind on the back of the palladium rally. Both are catalytic converters, palladium for gasoline engines and platinum for diesel cars. Palladium, of course, is in greater demand, given there are more gasoline cars than diesel.
Heine Pedersen
Heine Pedersen Jan 27, 2020 6:31AM ET
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Barani Krishnan  It got more to do with the options available. But thanks for your input.
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