Why are platinum and palladium not meeting analyst expectations?

The impact of the 10-week old strike which has halted production at a number of South Africa’s platinum mines so far seems to have had little impact on PGM prices. Why?

While every now and again some analyst or other comments that perhaps palladium is outperforming gold, or platinum is, on the year to date both the pgms have moved up pretty well pari passu with gold overall. All three metals are around 7-8% up since the beginning of the year. Indeed gold moved up substantially further during the height of the Ukraine crisis and while the pgms followed they did not quite do so to the same extent. As gold has fallen back though, the pgms have caught up again.  (more)

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