“I think the most important feature of yesterday’s events was that we have quarter end today for the financial institutions. Let’s just focus for a second on palladium.
There were about 2.5 million ounces of palladium that they were short; they had lost a lot money on that.
All of a sudden, palladium is down 200 bucks, somebody is better off by 500 million? 500 million? For quarter end? Oh, how wonderful! Gee, we made it to the end of the quarter and didn’t lose that 500 million… I think quarter end had a lot to do with this.”
