(Bloomberg) — Palladium set its sights on a record $2,000 an ounce, with the metal’s blistering rally showing no sign yet of cooling off.Prices climbed for an unprecedented 16th day after signs of a breakthrough in the U.S.-China trade talks, fueling hopes for a rebound in the auto industry, palladium’s biggest consumer. Prices surged this week as mining disruptions in major producer South Africa threatened to tighten a market already hobbled by a persistent deficit.“The physiological $2,000 level now acts as such a magnet to the market,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. “The strong …read more
Source:: Yahoo Finance
