“Palladium’s recent outstanding run is being given further impetus by planned strike” in South Africa, said Gavin Wendt, senior resource analyst at MineLife Pty. “End-users and traders will be increasingly concerned about supply. Importantly, palladium’s rise has less to do with short-term speculative factors, and instead a fundamental imbalance in the market’s supply-and-demand outlook.”
In other metals, gold was little changed, while platinum for immediate delivery rose as much as 0.8 percent to $860.05 an ounce, the highest since November. Palladium’s rally has been so strong that after reaching parity with gold in December, it’s now over $200 an ounce more expensive.
This article provided by Bloomberg News.