Why Palladium Is Smoking Your Brexit Gold Investment
London (July 29) There have been thousands upon thousands of words written about Brexit, and still, no one really knows what the future will hold. Will the British economy suffer? What happens to the euro? When will the next domino fall? All of that uncertainty tends to drive people into so-called safe-haven investments. And even though it's not the best at hedging a portfolio for such shocks, one of the most popular portfolio hedges remains gold (and to a lesser extent, silver).
But another little known commodity that rarely draws attention is outperforming its metal peers since the Brexit, via Bloomberg.
Metal Markets After Brexit
While it's hard to believe it's been a month since Brexit, it surely doesn't make a track record. But it just so happens the lesser-known metals - platinum and palladium - have been on an uptrend for a bit longer than that, with Brexit just adding some fuel to their upward trending fire. While platinum and palladium are known to be among the lesser-traded commodity markets, leading to some swift moves in either direction from time to time, they look to have found a longer term bottom... now breaking out of their 2015-2016 ranges.