Palladium Rose 3 Percent On Higher Demand

Reuters reported palladium also rose 3 percent on better demand expectation after encouraging Chinese vehicle sales data.

As quoted in the market news:

Palladium outperformed the rest of the precious metal complex, rising by 2.9 percent on the day to $667.50 an ounce to hold around its highest since early May, helped by a 8 percent jump in Chinese car sales figures for August.

Palladium relies heavily on the Chinese car market, the world’s largest, for demand, where it is used in catalytic converters for gasoline-powered engines.

Click here to read the full Reuters report.