Palladium extends gains, hits all-time high

2021-04-22 14:26:52 GMT (Economies.com)
Palladium extends gains, hits all-time high

Palladium prices rose on Thursday, after posting a record close yesterday, despite the US dollar's rebound against most of its rivals.

 

Several global mining companies forecast a supply shortage of some main industrial metals, especially nickel, palladium and platinum.

 

Analysts also forecast strong demand for palladium from automakers that use the metal in manufacturing environmental-friendly car components.

 

Following expectations of the global economic recovery, most notably in the US and Chinese economies, metals such as copper and palladium will witness a strong demand and prices will be lifted this year.

 

The dollar index rose against a basket of currencies by 0.1% to 91.2 points as of 13:48 GMT, after it hit a high of 91.2 points and a low of 91 points.

 

Palladium June futures rose 0.1% to $2,882 an ounce as of 13:49 GMT, with a high of $2,894 and a low of $2,828.

 
 
 
  Symbol Last Change Chg.%
1.2137
-0.0036
0.2974%
1.4121
-0.0015
0.1072%
Tadawul
10322.68
86.96
0.85%
27.415
-0.390
1.401%
65.391
-0.001
0.002%
68.55
0.41
0.60%
1831.695
-12.530
0.679%
 
 
Live Forex Updates