“Global sales will be bolstered by strong employment growth in developing nations, record low interest rates and the recent acceleration in the pace of monetary expansion around the globe,” Carlos Gomes, Scotiabank senior economist and auto industry specialist, said in the Reuters article.
Toyota Motor also announced that it will experience 9.9 million in global auto sales in 2013, or up 2% from the 2012 figures, according to the Global Times.
Recently, Sprott Asset Management launched the Sprott’s Physical Platinum and Palladium Trust (NYSEArca: SPPP), which saw nearly 6 million shares traded on its first day, writes Chris Hempstead, Head of ETF Execution at WallachBeth Capital.
SPPP holds physical palladium stored in London and Zurich. Potential investors should be aware that the investment is a closed-end fund – as a CEF, the fund can trade at a premium or discount to its NAV over prolonged periods since the number of outstanding shares does not change, whereas ETFs will try to stick close to their NAVs through creation/redemption process. [Premiums & Discounts]
For more information on palladium, visit our palladium category.
Max Chen contributed to this article.