Palladium futures rallied Friday to their highest settlement on record, extending last year’s advance and narrowing their price spread with gold to the smallest in roughly 16 years.
“Palladium has been on a multi-year run that shows few signs of abating,” John Ciampaglia, chief executive officer of Sprott Asset Management, wrote in a recent report. “Palladium is close to becoming the most ‘precious’ of precious metals.”
Palladium is used in pollution-controlling catalytic converters on gasoline-powered vehicles, has been significantly narrowing its spread with gold prices.
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.