Palladium Hits Highest Price Since August 2011

Reuters reported that on Friday, palladium rose to its highest price since August 2011 on the back of continued strikes in South Africa and concern that tension between Russia and the western world will escalate.

As quoted in the market news:

The metal has also benefited from the launch this week of two palladium-backed exchange-traded funds in South Africa. A similarly structured platinum fund launched in Johannesburg last year saw hefty inflows of palladium’s sister metal.

Spot palladium hit a high of $791.50 an ounce, its strongest level in more than 2-1/2 years, and was up 3.5 percent at $789.75 an ounce at 1141 GMT.

Click here to read the full Reuters report.