Palladium continues its rally to new highs

2019-03-15 15:36:37 GMT (Economies.com)
Palladium continues its rally to new highs

Palladium prices rose today, supported by demand from investors for precious metals as a safe haven, and Russia is considering a temporary ban on palladium's exports, which could result in a global supply shortage this year.

 

Russia's Ministry of Trade and Industry said it was considering a ban on the export of precious metals, including palladium, from May 1 to October 31 to boost domestic supply.

 

The price of palladium has jumped nearly 90% since mid-August, and has jumped 24% since the beginning of this year.

 

Forecasts indicate that palladium will continue to rise, supported by demand from automakers, which are using it for components to reduce emissions.

 

Meanwhile, the dollar index (against a number of major currencies) fell by 0.1% to 96.5 points by 13:51 GMT, recording a high of 96.7 points and a low of 96.5 points.

 

Palladium prices (June delivery) rose by 0.3% to $1519.4 an ounce, hitting a high of $1524.1 and a low of $1511.8.

 
 
 
  Symbol Last Change Chg.%
1.1163
0.0000
0.0000%
1.2703
-0.0034
0.2681%
14.453
0.035
0.246%
62.958
0.277
0.441%
72.03
0.15
0.21%
1274.850
-2.915
0.228%
 
 
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