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Hey, did anyone mention perhaps palladium as a good investment? It continues to do great. But I’ve got to level with you: I am delighted with the profits from this trade, but I’m a total wimp. Thus, I’ve taken the profits off the table and will wait to see if the happy day comes when we get another dip. I am thrilled with the ascent of precious metals, but good grief, they can’t go up EVERY day, right?
I first wrote about palladium (specifically, the PALL fund) precisely eight months ago, and it is up 20% since then. The thing is, I think that 20% is just the first baby step in YEARS of price gains to come, at least relative to equities. Here is a recent view of how the /PA futures are doing, aided by Monday’s $50 price gain.
Back on September 10th, I wrote a post proclaiming my commitment to hold on to my palladium (by way of PALL) for the long-haul. Well, that solemn vow lasted all of two days, as I took profits on the entire position on the 12th. Good thing, too, considering what happened next.
[edit] Also reference the September 3 article Junior Mining Basket Case.
The area of mineral exploration has long been cast aside. Whether precious (Gold, Silver) or more economically strategic (Rare Earth, Platinum/Palladium, Uranium, Copper and Nickel, etc.). This area has long been ignored in favor of sexier stuff over any given period during those 18 years. You know, Cloud/SaaS, Solar/EV and most recently, AI. The sexy stuff driven to over-valuation by rolling emotional hysterias. In other words, the stock market.
Gold stocks had been such a cast aside area. Producers, royalties, maturing developers of mines. The whole world appears to be getting in on the play now. But it’s got a lot further to go pending the next real correction. Now, the cat (the price of the HUI Gold Bugs Index) is out of the bag. My long-held target of 500 is history, at least so far on this move.
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