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%
|
|
