For those in the realm of precious metals investing, 2024 is shaping up to be a year of potential growth and opportunities.

Analysts have been closely monitoring the recent downturn in palladium prices, which has raised questions about the future trajectory of this silvery-white metal. In this blog, we will dive into the current palladium market dynamics, with a focus on New Age Metals' 100% owned River Valley Palladium project, located just 100 kilometers away from Sudbury, Ontario. Additionally, we'll discuss some potential factors that shareholders of New Age Metals may eagerly anticipate.

Palladium's Recent Performance

Palladium prices have recently experienced a significant dip, plummeting below the $1,000 per ounce mark for the first time in half a decade. This decline occurred despite reports of sanctions imposed on Russia's largest precious metals refinery. Daniel Ghali, Senior Commodity Strategist at TD Securities, noted that even as palladium forwards were aggressively borrowed, its price action seemed 'almost extreme.'

Ghali further explained that while palladium has reached its lowest price since 2018, there may still be room for further downward movement. The market timing signal suggests a continued downtrend, even as prices approach the psychologically important $1,000/oz range.

EXPLORING OPPORTUNITIES IN PRECIOUS METAL - A CLOSER LOOK AT PALLADIUM

November 23, 2023

For those in the realm of precious metals investing, 2024 is shaping up to be a year of potential growth and opportunities. Analysts have been closely monitoring the recent downturn in palladium prices, which has raised questions about the future trajectory of this silvery-white metal. In this blog, we will dive into the current palladium market dynamics, with a focus on New Age Metals' 100% owned River Valley Palladium project, located just 100 kilometers away from Sudbury, Ontario. Additionally, we'll discuss some potential factors that shareholders of New Age Metals may eagerly anticipate.

Palladium's Recent Performance

Palladium prices have recently experienced a significant dip, plummeting below the $1,000 per ounce mark for the first time in half a decade. This decline occurred despite reports of sanctions imposed on Russia's largest precious metals refinery. Daniel Ghali, Senior Commodity Strategist at TD Securities, noted that even as palladium forwards were aggressively borrowed, its price action seemed 'almost extreme.'

Ghali further explained that while palladium has reached its lowest price since 2018, there may still be room for further downward movement. The market timing signal suggests a continued downtrend, even as prices approach the psychologically important $1,000/oz range.

Contact:

Tel: +1-604-685-1870

Email: info@newagemetals.com

(C) 2023 Electronic News Publishing, source ENP Newswire