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Investment

Sold palladium, +172%

25 Jan 2011 by Jim Fickett (removed dead links 4 Dec 2014).

I sold most of my palladium last April, at about $500/oz, but kept a small amount back. Today I sold a bit more (only 0.5% of the portfolio) at $762/oz. This was purchased at $280/oz, so my gain was 172%.

To be honest I have no idea whether palladium will go higher or not. Trying to guess whether Russia still holds some stockpile from Soviet times, or at what price speculators and dealers, who hold millions of ounces, will sell, is impossible to do on any rational grounds.

What is clear is that the price of palladium is very high from an historical perspective. I am taking advantage of high prices and reducing risk.