Well, Maxx has created a monster, because palladium has gone from “never even gave it a thought” to “living rent free in my head.” I wanted to share a few more charts about this critter.
First is the layered chart of the long-term gold futures versus those of palladium. They pretty much tracked one another until a couple of years ago, at which time palladium decided to vastly underperform gold. I suppose the big question is whether PA can ultimately clamor its way back up to GC-land.
A ratio chart of these two is illuminating as well. Palladium peaked around May 2021 versus gold. Since then, this ratio has fallen by about 75%!
Looking at the ETFs, the result is even more stark. It seems that PALL is the only game in town, and its price relative to GLD has never been lower.
Interesting stuff!
