Hedge funds take a shine to palladium

Financial Times. com reports that palladium prices have pushed up dramatically, as hedge funds flood in.

The story is quoted as saying:

The fund community has been a fan of palladium for some time,” said Edel Tully, precious metals strategist at UBS in London. Fund buying helped the precious metal rise 2.9 per cent to $624.55 a troy ounce on Tuesday, the highest since June 2001 and the second peak in two days. Palladium has risen 55 per cent since the start of the year.

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