China Car Surge Sends Palladium on Steepest Ascent in Six Years
- Platinum prices also advance to their highest level since 2015
- Dollar and outlook for U.S. rates help power precious metals
What's Behind the Recent Surge in Palladium Prices?
This article is for subscribers only.
Palladium posted the steepest intra-day jump in more than six years, leading precious metal gains, as rising car sales in China raised speculation supply won’t be enough to meet demand.
Chinese vehicle sales in July gained the most in 17 months, data showed this week. Total supply of palladium, used in pollution-control devices for gasoline-fueled vehicles, will trail consumption by 53,000 ounces, as mine production declines, New York-based researcher CPM Group said in a report in June.