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MKS PAMP: trading range of palladium will be $1500-2500 with 50% chance in 2023
MKS PAMP Group analysts suppose that palladium will be within the $1500-2500 range with a 50% chance. The chance of exceeding $2500 is 25%, and the probability of a decrease below $1500 is also 25%. According to forecasts, the average price will be $1800.
Nicky Shiels thing that several factors may contribute to a bullish scenario:
- unexpected supply disruptions;
- rising interest of investors and their re-engagement;
- growth of the Chinese economy that caused the increase in demand for palladium;
- tightening vehicle emission standards that led to an increase in palladium stocks (it is crucial to control the emission of gasoline-powered cars).
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