Palladium prices hit highest

On Tuesday, Palladium prices hit their highest in well over a year in Europe.

The news release is quoted as saying:

Spot platinum hit a 16-month high of $1,528 an ounce and was bid at $1,520 an ounce at 1125 GMT, against $1,521 late on Monday. Palladium hit a peak of $424, its highest since July 2008, and was later at $420 versus $418. Investors are favoring the metals, used mainly in autocatalyst manufacturing, partly due to perceptions that a recovery in economic growth will eventually lift car demand.

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