Palladium edges up but loses place to gold

Economies.com
2019-01-29 14:59PM UTC

Palladium prices backed off recent record highs which pushed the metal past gold in value before losing its place again to the yellow metal. 

 

Analysts still expect supply shortages of palladium and a spurt in demand from carmakers that use the metal to limit engine exhausts. 

 

Palladium surpassed gold in value in January for the first time in 16 year, but Reuters estimated value declines in 2019 and 2020 before climbing anew. 

 

Analysts expect palladium to average $1,200 this year and $1,150 in 2020, before returning to near record highs hit earlier this month at $1,434.5. 

 

As of 14:46 GMT, palladium rose 0.9% to $1,301.3 an ounce, with a session-high at $1,309.1, and a low at $1,284. 

 

In comparison, gold inched up 0.2% to $1,311.8 an ounce, with an intraday high at $1,316.7, and a low at $1,307.8. 

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