Renewed demand from the automotive industry will push up the price of palladium and platinum.
(1888PressRelease) June 07, 2011 - MIAMI, FL - Demand from the automotive industry could push prices for palladium and platinum, through the roof this year. Both are used in the manufacture of catalytic converters and analysts predict significant shortages of palladium, especially following increased sales by BMW and other auto makers.
Palladium, with 53% of its demand coming from the automotive industry, should rebound strongly as Japan's auto industry recovers and global growth fuels demand for 'greener' automobiles with reduced emissions.
Pan American Metals of Miami (PAMM) trades in palladium and platinum, as well as silver and gold.
"Investors looking for long-term profits should look at all the precious metals, not just the more newsworthy gold and silver," says Bill Hionas, CEO of PAMM. "Palladium is definitely poised for a strong rebound."
In addition to the auto industry, palladium is also used in electronics: computers, cell phones and iPods, and in the jewelry industry as an alternative to platinum or white gold, yet ore deposits are extremely rare. Heavy demand, coupled with the biggest shortage in over thirty years, makes palladium a very attractive investment.
Platinum is also in demand for manufacturing catalytic converters, though to a slightly lesser degree. However, there is also heavy demand from the jewelry industry; 43% of platinum's demand comes from the jewelry industry, as opposed to 32% from the automotive industry, making it less dependent on economic conditions. Many analysts feel that platinum also is due to rebound.
Like palladium, it is rare, with most deposits being in Russia, South Africa and Canada. There is talk of prices reaching $2000 for platinum and $1000 for palladium in the next couple of years.
Clients wishing to add palladium or platinum to their portfolio can contact any of PAMM's team of seasoned brokers; opening an account online is fast and easy.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who combine many years of experience to help clients invest in bullion. PAMOM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Renewed demand from the automotive industry will push up the price of palladium and platinum. 
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