Palladium soars to within sight of $3,000 in record run
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Last Updated: Apr 23, 2021, 10:09 PM IST
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Synopsis
Many analysts expect a further run towards $3,000 as automakers ramp up purchases of the metal, worsening a supply shortage.
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Palladium jumped more than 3% to a record high of $2,925.14 per ounce, poised for a second straight weekly gain.
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Palladium extended its blistering rally to an all-time high within striking distance of $3,000 on Friday on supply concerns and bets for improving demand, while gold pulled back on strong US economic data.
Palladium jumped more than 3% to a record high of $2,925.14 per ounce, poised for a second straight weekly gain.