Introduction
Welcome to Orchid's Palladium Weekly report, in which we discuss palladium prices through the lenses of the Aberdeen Standard Physical Palladium Shares ETF (PALL).
PALL continues to make all-time highs, having rallied a little bit more than 4% since our last update, in line with our very bullish view.
PALL benefits from positive tailwinds from a positive macro backdrop for the overall precious metals space, in addition to a tight physical market and momentum-based buying by the CTA community.
Although we acknowledge the strong performance of PALL so far this year