Palladium is poised to outperform again in 2015, with prices seen rising 6% even as the wider precious metals complex struggles, a Reuters survey showed on Tuesday.
Palladium’s sister metal platinum is facing a third year of losses, however.
Respondents to a poll of 32 analysts, traders and other market participants conducted earlier this month forecast that palladium prices would average $845 an ounce this year, up from $799 an ounce in 2014. Palladium is forecast to extend those gains to average $900 an ounce in 2016.
On Thursday, January 29, the day’s biggest mover was the price of Chinese palladium bar, which saw a 2.3% increase to CNY 178.00 ($28.50) per gram. This increase comes after two straight days of stagnant prices. US palladium bar saw its price rise 1.8% to $793.00 per ounce. Japanese palladium bar saw little change in its price on Thursday at JPY 2,950 ($25.08) per gram.
US platinum bar closed 0.9% lower at $1,249 per ounce. Chinese platinum bar ended the day at CNY 268.00 ($42.91) per gram, after the 0.7% drop on Thursday. Japanese platinum bar prices rose 0.4% to JPY 4,766 ($40.53) per gram.
Following a two-day drop, the price of Japanese gold bullion increased by 0.8% to JPY 4,894 ($41.62) per gram. US gold bullion finished the day down 0.7% to $1,283 per ounce. Chinese gold bullion prices saw a 0.6% decline to CNY 258.00 ($41.31) per gram. The price of Indian gold bullion increased 0.1% to INR 28,040 ($457.46) per 10 grams.
The price of Chinese silver declined 0.5% to CNY 3,745 ($599.69) per kilogram. The price of US silver fell 0.4% to $17.96 per ounce. At INR 39,916 ($651.21) per kilogram, Indian silver fell 0.4% yesterday. After dropping for two days, the price of Japanese silver flattened at JPY 669.00 ($5.69).