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Palladium breaks $1,500 barrier in record run

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Palladium breaks $1,500 barrier in record run; gold rises

 

Published 13 Hours Ago   Updated 55 Mins Ago Reuters

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Palladium briefly surpassed the $1,500 mark for the first time to touch a record high due to tight supplies and gold topped a 10-month peak on hopes of a U.S.-China trade truce, as investors awaited clarity on U.S. monetary policy.

Spot palladium, which traded as high as $1,502 per ounce, was up 1.07 percent at $1,495.26 at 8:24 a.m. ET.

"There is a lack of supply in the market and demand is very high," said Afshin Nabavi, senior vice president at MKS SA, citing lack of supplies from major producers Russia and South Africa.

 

The supply deficit is likely to widen this year as stricter emissions standards increase demand for catalytic converters, autocatalyst manufacturer Johnson Matthey said last week.

From: https://www.cnbc.com/2019/02/20/gold-markets-dollar-federal-reserve-meeting-minutes-in-focus.html