There it is. Those palladium credits are equal to gold now. Looks like they could be worth more than gold soon for a while.
PRECIOUS-Palladium Hits Record High, Pierces Gold Prices
* Palladium hits record high of $1,239.50/oz
* Gold on track for second straight day of gains
* Palladium could be bound for correction in short term-analysts
By Swati Verma
BENGALURU, Dec 4 (Reuters) - Palladium soared to a record on Tuesday, fuelled by a sustained deficit and speculative interest for the autocatalyst metal, briefly surpassing bullion, which scaled a more than five-week peak as the dollar slid.
Spot gold rose 0.5 percent to $1,237.44 per ounce at 12:22 p.m. EST (1722 GMT), after earlier hitting $1,241.86, the highest since Oct. 26. U.S. gold futures were up 0.3 percent at $1,242.90 per ounce.
Palladium climbed 2.6 percent to $1,235 per ounce, having earlier jumped to an all-time high of $1,239.50.
“We have a tight fundamental market, flat supplies, rising demand and on top of that, undoubtedly some speculative interest which has helped drive prices to all-time record highs,” Mitsubishi analyst Jonathan Butler said.
“For the moment, we don’t see anything changing; the metal remains in demand for industrial uses, speculators are covering their positions, lease market is very tight, and palladium forwards are in backwardation. We could see some higher prices from here in the very short term.”
The metal, used mainly in emissions-reducing auto catalysts for vehicles, has gained about 49 percent since mid-August.
https://www.kitco.com/news/2018-12-04/PRECIOUS-Palladium-Hits-Record-High-Pierces-Gold-Prices.html
