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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.
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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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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