Palladium continues to rise above $1600

Palladium prices soared today buoyed by strong demand on industrial metals after a new round of the US-China trade talks begun.

Officials from China headed by Vice Premier Liu He met with their US counterparts in Washington today to discuss a trade deal.

President Trump said in a tweet today that he will meet with the Chinese Vice Premier Liu He tomorrow at the White House, which has increased hopes for a progress to be made during the talks.

Bearing in mind that a trade deal between the US and China will in turn increase demand on industrial metals and global stocks.

Palladium is used in the manufacturing of car components that reduce exhaust emissions, which led demand on it to surge due to environment protection regulations. 

By 14:17 GMT, palladium spot price rose by 0.6% to $1,665.4 an ounce, with a session-high of $1,665.9 and a low of $1,645 .