Renewed strength in the U.S. dollar, trading near a three-week high, is weighing on the entire precious metals market but that will not be enough to stop the long-term uptrend in palladium, one bank says.
The precious metal has fallen from its record highs above $1,500 an ounce, but analysts at Bank of American Merrill Lynch said that there is still plenty of opportunities to move higher. The bank is lifting its price forecast this year, saying it sees the metal averaging $1,800 an ounce, a 22% increase from its previous estimate.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, focusing on the reprocessing of historical mine waste and surface materials. Their projects in South Africa include the Hernic Platinum Project, DCM Platinum & Chrome Project and the PlatCro Platinum Project.