Palladium Rises on South African Supply Worries

The Wall Street Journal reported that palladium rose to a nine-day high today as a result of concerns about supply out of South Africa.

As quoted in the market news:

South Africa accounts for about three quarters of global platinum output and about a third of the world’s palladium supply. Platinum and palladium are often found together in one ore body.

Palladium for September delivery was recently up $6.55, or 0.9%, at $763 a troy ounce. The contract touched an intraday high of $764.50 an ounce, its highest traded price since May 28.

Click here to read the full report from The Wall Street Journal.