Sales of clean diesel vehicles in the US have increased by 25.6% this year. Clean diesel cars only account for 3% of US sales (compared to over 50% in Europe).
A shift toward clean diesel cars in the US will likely boost the demand for platinum that is used in diesel auto-catalysts.
Palladium prices are also benefiting from the belief that US and China recovery will boost palladium sales destined for the gasoline auto-catalysts that dominate the Chinese and US auto markets.
Key events to watch this week: US fiscal cliff negotiations
US politicians continue to bicker, with Republican House leader Boehner dismissing a Democrat proposal outright, saying “the White House has to get serious.”
Time is running out and markets are becoming increasingly anxious. US jobs numbers late this week will also be watched carefully, though Hurricane Sandy is expected to disrupt the relevance of the month’s numbers.
ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
