This Metal Just Hit a Record. Here's Why Palladium Is Soaring
- Prices have been supported by consumers choosing gasoline cars
- Analysts are predicting deep supply deficits in palladium
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Palladium, a precious metal widely used in the automotive industry, has hit an all-time high.
The rally has been fueled by concern over shortages and speculators piling in to bet on even higher prices. The majority of palladium is used to make catalytic converters in gasoline automobiles, and there’s increased demand for the metal as consumers increasingly choose gasoline vehicles over diesel.