Palladium rose to a record high on Thursday on lower supply and increasing demand for the metal used in auto catalysts, while a firmer dollar offset the expectation of a pause in the US Federal Reserve’s rate-hiking cycle, keeping gold steady.
The price of palladium, used mainly in emissions-reducing catalysts for vehicles, is up more than 60% since marking a trough in mid-August. Prices for the metal overtook gold for the first time in 16 years early in December 2018.
Spot palladium was up 0.1% at $1,360/oz, as of 3.50am GMT, after earlier hitting a record high of $1,366.50/oz.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, focusing on the reprocessing of historical mine waste and surface materials. Their projects in South Africa include the Hernic Platinum Project, DCM Platinum & Chrome Project and the PlatCro Platinum Project.