Palladium Is Now More Expensive Than Gold Has Ever Been
- Metal topped $1,940 an ounce, heading for longest-ever rally
- There’s still room to run before year-end: Mitsubishi
A palladium ingot.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Palladium rose for a 15th day, heading for its longest run of gains on record and exceeding the highest-ever price of gold.
Spot palladium touched a record of $1,940.34 an ounce Thursday, extending its year-to-date gains to 54%. Prices have been driven by supply concerns as mines in South Africa, the world’s No. 2 palladium producer, were shut down for 24 hours this week because of electricity shortages. State power utility Eskom Holdings SOC Ltd. is still implementing rolling blackouts, although at a lower level.