These are some weird financial times we're living in, my friends. The dollar, Euro, pound, and basically all currencies are falling, but what are they falling against? Oil is around $40 a barrel and Gas in many places is under $1.50 a gallon. Precious metals are down: platinum is around $820, palladium is $170, and silver is $10.50. Gold isn't down as much, but at $820 it isn't particularly high either. Stocks are down, auto makers are about to go bankrupt, and real estate prices are now dirt cheap.
So, what's going to give? If everything is down, the dollar would be strong, right? In a very real sense, for now anyway, it is! It's really fallen against the yen, so keep that in mind. However, as the dollar falls other currencies will follow slowing. Precious metals will shine. It won't be immediate, but with a global recession, something will go up, and those holding those assets will benefit.
Where does this leave Palladium? Palladium is a precious metal, so will rise as gold does, but palladium is also an industrial metal, meaning it's used up in the auto industry. If they aren't making cars, they aren't buying palladium. Palladium will have its time, but we can't say when.
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Why not? I read the post about the article saying that Palladium is at it's historical bottome right now. If we buy now we should be safe as it can't go no lower, right??
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