Palladium soars, eyes best day in two decades on South Africa lockdown [Reuters]
Platinum Group Metals Ltd. Ordinary Shares (Canada) (PLG)
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Source: Reuters
Palladium soars, eyes best day in two decades on South Africa lockdown (Reuters) - Palladium surged 12% on Tuesday, on track for its biggest daily rise since 2000 as major producer South Africa locked down due to the coronavirus, while gold soared over 3% as a fresh round of stimulus measures paused a run for cash amongst investors. Autocatalyst metal palladium rose to $1,927.23 per ounce, while platinum rose 6.8% to $686.39, also helped by the 21-day shutdown. “We believe this might provide significant support to Platinum Group Metals prices in the short term,” said Dmitry Glushakov, Head of Metals & Mining Research at VTB Capital. “The country accounts for some 70% of global platinum mined supply and 35% of palladium, with a 21-day lockdown possibly resulting in a 4% and 2% of 2020 supply reduction respectively.” Spot gold was up 3.2% at $1,603.01 per ounce by 1050 GMT and at its highest since March 13, having posted its best day since June 2016 on Monday with a 3.7% rise. U.S. gold
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News
- Mining stocks starting to catch up to record breaking precious metals rally [Seeking Alpha]Seeking Alpha
- InvestorNews Inc. Partners with MineralPrices.com to Provide Enhanced Mineral Pricing for the Resource and Critical Minerals Industry [Yahoo! Finance]Yahoo! Finance
- Retail investors account for 46% of Platinum Group Metals Ltd.'s (TSE:PTM) ownership, while institutions account for 28% [Yahoo! Finance]Yahoo! Finance
- Update on Funding and on Repayment of Asset Based Debt Facility & General Corporate Update [Yahoo! Finance]Yahoo! Finance
- Building a platform for collaboration and climate action [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
PLG
Sec Filings
- 4/16/24 - Form 6-K
- 3/1/24 - Form 6-K
- PLG's page on the SEC website