Palladium jumps 3% to round off strong year
Prices of palladium soared over 3% on Thursday with investors expecting higher industrial demand next year amid coronavirus vaccine rollouts across the globe that could boost travel demand.
Automakers are eying market recovery in 2021 from the virus-caused crisis, aiming to use more palladium to meet tightening emission standards introduced by governments worldwide.
Palladium strengthened 2.99% at 11:00 am ET to trade at $2,439.83 per ounce. Compared to 2019’s levels, the precious metal climbed more than 25%.
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