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 has come under slight downward pressure since our latest publication, falling short of our too bullish target of $153 per share in July, closing the month a little bit more than 1% lower. The bout of spec/ETF selling was enough to pressure palladium prices lower.
Going forward into August, we believe that upward pressure in PALL will resume, in part because automotive demand from China