Looking at the other white metals, platinum can find support from an expanding economy and rising auto sales. For example, auto registrations in Europe were up 9.1% in April, the strongest in eight years. Tighter emission standards in Europe will also bolster demand for Platinum as a diesel catalyst. Additionally, South African platinum miners could experience another wave of strikes and production outages when existing agreements expire in June.
Palladium has also enjoyed a decent bounce over the past month as short sellers covered positions. The precious metal may also regain momentum as it remains in a supply deficit for the firth consecutive year due to stronger demand from the auto industry.
Related: Soaring Gold, Silver, Platinum ETFs Power Up
Investors can gain exposure to these precious metals through a number of physically backed ETF options, including ETFS Physical Swiss Gold Shares (NYSEArca: SGOL), ETFS Physical Silver Shares (NYSEArca: SIVR), ETFS Physical Platinum Shares (NYSEArca: PPLT) and ETFS Physical Palladium Shares (NYSEArca: PALL). ETF investors can also use the ETFS Physical Precious Metals Basket Shares (NYSEArca: GLTR) as a catch-all of all four precious metals.
Financial advisors who are interested in learning more about investment themes for the rest of the year can register for the Thursday, June 9 webcast here.