Palladium is now more expensive than gold has ever been


By Elena Maznev
Bloomberg News
Thursday, December 12, 2019

Palladium rose for a 15th day, heading for its longest run of gains on record and exceeding the highest-ever price of gold.

Spot palladium touched a record of $1,940.34 an ounce today, extending its year-to-date gains to 54 percent. Prices have been driven by supply concerns as mines in South Africa, the world's No. 2 palladium producer, were shut down for 24 hours this week because of electricity shortages. State power utility Eskom Holdings SOC Ltd. is still implementing rolling blackouts, although at a lower level.

"It seems that nothing can slow palladium," said Daniel Briesemann, a Commerzbank AG analyst. "Even though we regard the steep price rise as exaggerated, there is no end in sight to the rally." ...

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