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Palladium, the ‘Tesla Stock of Commodities,’ Smashes Record Again

  • Palladium is “like the Tesla stock of commodities,” Meir says
  • Palladium jumps as gold surges above $1,600 an ounce
Photographer: Valerian Mazataud/Bloomberg
Updated on

No commodity is benefiting from the deadly coronovirus outbreak more than palladium.

Futures contracts for the precious metal surged as much as 8.1% to a record as Wall Street fled stocks. Investors are searching for safe havens after Apple Inc. warned that the virus and efforts to contain it would have its sales missing forecasts.