Chart of the week: palladium hits another high
Palladium hit another record high this week, with the spot price reaching $1,700 an ounce.
Onwards and upwards. Palladium hit another record high this week, with the spot price reaching $1,700 an ounce. It has gained a third in 2019 alone.
The metal is used mainly in catalytic converters for petrol engines. Global car sales have dipped, but demand is climbing steadily owing to tougher emissions standards in China, while a shift from diesel to petrol cars in Europe following the furore over diesel emissions is also bullish.
Meanwhile, supplies, which stem largely from South Africa and Russia, are not expected to increase this year, notes Henry Sanderson in the Financial Times. The rally looks set to endure, although concern over global growth and intensifying trade tension is likely to cause setbacks.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Viewpoint
Bob Hoye, Halkin Services
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published