Palladium Hits 11-Week High

Kitco reported palladium prices rose sharply higher to an 11-weak zenith on Wednesday with a renewed focus on Russian stockpiles.

As quoted in the market news:

The market has also drawn support from demand factors, such as improved prospects for auto sales and the start of buying ahead of the Chinese New Year next month, traders and analysts said.

The most-active Nymex March palladium contract has been as high as $689.90 an ounce, its most muscular level since Sept. 21. At Wednesday’s peak, it had gained $77.30 since the November close.

Click here to read the full Kitco report.