Palladium rises 1% as industrial demand returns

Palladium prices rose today, as demand on industrial metals returned, amid  market's optimism following China's statement about its intention to end the ongoing trade war.

The Chinese Ministry of Commerce spokesman said that China will not respond to the recent US tariffs increase in order to end the trade war, adding that the two countries will discuss at their next meeting the resumption of the talks.

Bearing in mind that demand on commodities will increase in the case of a final solution to the ongoing trade war, especially demand on industrial metals.

While many governments have tightened their standards on gas emissions, which have led car manufacturers to use palladium in manufacturing components that reduce exhaust emissions.

As of 14:20 GMT, palladium futures (December delivery) rose by 1.5% to $1482.9 an ounce, with a high of $1485.4 and a low of $1484.9.