The price of palladium exceeded the price of gold for the first time in 16 years

Цена палладия превысила стоимость золота впервые за 16 лет

The supply of palladium is very limited

Palladium has risen by a quarter over the last four months on fears of shortage of this precious metal.

Prices for the precious metal palladium has grown a record. His quotes during trading on Wednesday, 5 December, exceeded the price of gold, which was not observed for 16 years, Interfax reported.

So, in the course of the session on the spot market palladium was worth a record $1236,48 per Troy ounce. Gold, meanwhile, traded at $1235,37 per ounce.

Palladium has risen by a quarter over the last four months on fears of shortage of this precious metal, which is used in the manufacture of filtration systems car exhausts. A massive failure of consumers from vehicles with diesel engines in favor of diesel cars increases the use of palladium in production.

“The supply of palladium is very limited, says consultant Metal Ltd Focus. Chirag Sheth. – However, price convergence caused by strong indicators of palladium and weak dynamics of gold”.

“People are fighting for every available ounce of metal,” – said the head of Department of trading operations with metals at BMO Capital Markets tai Wong.

Earlier it was reported that in Australia, miners discovered two huge stone with abundant inclusions of gold. Each of these stones is, according to preliminary estimates, millions of dollars.

News from the Reporter.net Telegram. Subscribe to our channel https://t.me/korrespondentnet

Source