The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Commodities: Platinum and palladium outshine gold?

Prices outstrip gold this year; China’s industrial demand underpins rises

Gold isn’t about to lose its status as a safe haven in times of financial uncertainty; the European sovereign debt crisis will ensure that. But, as far as the commodity markets are concerned, platinum and palladium are the metals of choice in 2010 and beyond, as a rebound in economic growth, especially in the emerging markets, sets in motion a sustained rally. After gaining more than 23% in 2009, the gold price has risen by a pedestrian 1% in 2010. Meanwhile platinum and palladium have emerged as two of the best-performing markets, with platinum up 18.7%, and palladium up 38.2%. Robin Bahr, a metals analyst at Crédit Agricole in London, thinks that despite their outperformance already, the two metals will continue to offer better value than gold. There are two key trends at play here, one economic, one fashion, which could realign pricing across the precious metals markets.

Leading indicators

According to the OECD’s leading indicators for industrial production, there has been a big rise in expectations for a strong rebound in global industrial production. Crédit Agricole’s own macroeconomic projections forecast that real GDP growth in the emerging markets will outstrip that of the developed world by a ratio of two-and-a-half times to one.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree