Palladium Extends Rally to Highest Since 2001 on Auto Outlook
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Palladium prices rose, extending a rally to the highest since March 2001, as improving prospects for the auto industry boosted demand for the metal used in pollution-control devices in vehicles.
This week, Bayerische Motoren Werke AG, Daimler AG and Audi AG, the world’s largest makers of luxury cars, forecast record 2011 sales. In 2010, China remained the world’s largest auto market after vehicle sales jumped 32 percent. Palladium futures have jumped 91 percent in the past 12 months, outpacing gains in gold, silver and copper.