PGMs are hot topics at the recent LBMA
Palladium record price surge continues Palladium caught yet another bid this week, once again hitting fresh highs Thursday of around $1,180/oz, and only just shy of that during Friday trade, as speculators bought into already tight physical market conditions, sources said. One trader said to S&P Global Platts that palladium is the one thing that keeps him up at night. He said he believes that the metal has a lot more upside, but having already gained around 40% since August alone, he is cautious of getting too long. Palladium in short supply since 2012 was given a boost last year by the move away from diesel cars. The metal is primarily used in petrol vehicle autocatalysts to reduce emissions. Its price came within $30 of the gold price for a time Thursday, something analysts at Commerz bank said they would not have believed possible just a few months ago. The bank attributed the price surge to buying on the futures market, with Thursday's trading volu