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- Silver, Palladium to move in opposite directions – CE
Silver, Palladium to move in opposite directions – CE
FXStreet reports that strategists at Capital Economics expect silver to continue its downfall whereas palladium is set to resume its uptrend.
“The release of the Fed Minutes on Wednesday should provide some indication about how committed the FOMC is to keeping interest rates at current lows. If the minutes bring forward market expectations of interest rates hikes then the US dollar could strengthen, putting downward pressure on commodity prices.”
“We expect the silver price to continue to fall further by the end of the year as investment demand declines and industrial demand eases.”
“We think the recent palladium rally will resume before long as the deficit in the market widens, taking the price to $2,700 per ounce by year-end.”
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