Palladium hits pause, holds near record high

Palladium prices tilted lower during trading hours today, but remained near the all-time high, amid concerns over the global supply and the US-China trade file.

Palladium continues to attract demand despite the ongoing trade dispute between the US and China and its impact on demand, as analysts forecast Palladium to advance further to fresh record highs and breach the $2,000 mark before gold.

Palladium is used in the manufacturing of car components that reduce exhaust and pollutant emissions, which has propelled global automotive companies to increase demand and prices have gained around 47% since the beginning of the year until yesterday.

Palladium has breached $1,860 yesterday, it's all-time high, and still continuing its record-breaking run it entered since Nov.25.

As for trading, palladium March futures dipped 0.2% to $1,820.4 an ounce as of 14:28 GMT, and hit a session-high of $1,834 and a low of $1,815.3.