Precious metals are the best performers in third quarter- Deutsche Bank
Global Scrap News | 2013-09-03 05:49:53
Precious metals are the best performers in third quarter, says analysts at Deutsche Bank. The Deutsche Bank Liquid Commodities Indices Optimum Yield (DBLCI-OY) Precious Metals index is up almost 15% since the end of June, analysts explained.
By Paul Ploumis
FRANKFURT (ScrapMonster): Precious metals are the best performers in third quarter, says analysts at Deutsche Bank. The Deutsche Bank Liquid Commodities Indices Optimum Yield (DBLCI-OY) Precious Metals index is up almost 15% since the end of June, analysts explained. After analysing China data, Deutsche Bank noted that platinum imports have been strong over the recent months while palladium and silver imports have been weak. According to Deutsche Bank, precious metals have performed well in the third quarter providing positive returns of approximately 13%. However, the bank is more upbeat on platinum group metals (PGM) which includes platinum and palladium on strong autocatalyst demand especially in China. Providing positive returns, commodity indices have performed well in third quarter while precious metals outperformed others.
Trading volumes of platinum on the Shanghai Gold exchange (SGE) would suggest an opportunistic buyer pattern during periods of price weakness, but also that jewellery demand remains healthy and is potentially an upside to our supply - demand balance for 2013.
"Given the strong domestic vehicle production YTD, we would expect palladium imports to be stronger. Potentially this indicates good supplies in China or that loadings are not quite as high as we had expected."
