Palladium uptrend a positive for Hunter Wise physical commodity firm

Jan. 25, 2011 - PRLog -- Las Vegas -- Palladium investors donned their party hats as the precious metal rang in 2011 at $800 an ounce. The metal has continued to gain in subsequent weeks, reaching a 10-year high of $825.10 on the New York Mercantile Exchange Jan. 13.

“We’re seeing a definite uptrend with palladium, and we think the trend will affect the entire precious metals market. The rising prices of palladium could also potentially influence platinum, gold, silver and copper as investors continue to seek out the precious metals as a means for investment,” said Joe De Dios, director of U.S. Development with Hunter Wise Financial Services, a precious metals investment firm based in Las Vegas.

The firm currently focuses solely on the precious metals sector, but plans to widen its scope by offering additional physical commodity trading opportunities in the future.

“Palladium is in demand because the automotive industry is recovering,” De Dios explained. The industrial metal is primarily used as a pollution reducing component in catalytic converters.

The outlook for platinum and palladium has certainly improved since Stillwater Mining Co. – which mines the precious metals– had its contract canceled with General Motors in 2009. Cheaper suppliers were located overseas.

The revival of the auto industry prompted GM to draft a 3-year contract with the Montana mining company in December. Stillwater began providing GM with palladium to build its catalytic converters in January.

“This is positive news for the physical commodity investment industry,” De Dios said. “At Hunter Wise, the metals can be purchased as fully paid or leveraged positions. We offer each independent dealer a unique dealing opportunity, enabling that person to reach full profit potential.”  

About Hunter Wise Commodities
Hunter Wise Commodities, LLC is an affiliate of Hunter Wise Financial Group, LLC. The company’s corporate headquarters are in Las Vegas, Nev., with additional offices in Irvine, Calif., and London, England. For more information about the company, visit http://www.hwcom.com/.

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