{"id":241961,"date":"2021-05-04T21:03:00","date_gmt":"2021-05-04T18:03:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/palladium-touches-an-all-time-record-high-above-3000-an-ounce\/"},"modified":"2021-05-04T21:03:00","modified_gmt":"2021-05-04T18:03:00","slug":"palladium-touches-an-all-time-record-high-above-3000-an-ounce","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/palladium-touches-an-all-time-record-high-above-3000-an-ounce\/","title":{"rendered":"#\n  Palladium touches an all-time record high above $3,000 an ounce"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dfe1d9fdf8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dfe1d9fdf8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/palladium-touches-an-all-time-record-high-above-3000-an-ounce\/#Myra_P_Saefong\" >Myra P. Saefong<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Palladium touches an all-time record high above $3,000 an ounce<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div class=\"cx--next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000256324\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Palladium futures touched their highest levels on record Tuesday, as strength in U.S. vehicles sales and global economic recovery from COVID-19 bode well for the metal used in catalytic converters, which reduce emissions from gasoline-powered engines.<\/p>\n<p> \u201cAs the thought of the world coming back gets stronger and stronger and personal transport likely to be popular in a post COVID world, palladium \u2014 needed in almost every car \u2014 rings the all-time price bell,\u201d said R. Michael Jones, chief executive officer of Platinum Group Metals Ltd.<br \/>\n        PLG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202722078\/composite\" class=\"negative\">-1.01%<\/bg-quote><span>.<\/span><\/p>\n<div class=\"paywall\">\n       Demand for the metal has been \u201csteadily increasing per car based on tighter emissions standards all around the world,\u201d he told MarketWatch. \u201cProduction has been flat and under invested in. The squeeze is on. Substitution is difficult, expensive and time consuming.\u201d<\/p>\n<p>On Comex, the most-active June palladium contract<br \/>\n        PAM21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/217647915\/delayed\" class=\"negative\">-0.16%<\/bg-quote><\/p>\n<p>        PA00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210237962\/delayed\" class=\"negative\">-0.16%<\/bg-quote><br \/>\n       traded as high as $3,019 an ounce, the highest intraday level on record, according to Dow Jones Market Data. Prices eased back by $3.80, or 0.1%, to settle at $2,977.60 an ounce on Tuesday, after scoring an all-time settlement high of $2,981.40 on Monday. They trade more than 20% higher year to date, after a nearly 29% rise in 2020 \u2014 which marked the metal\u2019s fifth straight yearly rise.<\/p>\n<p>Palladium prices have been reaching fresh record highs on and off since April, topping the highs last seen in 2020.<\/p>\n<p><strong>Read:<\/strong> Palladium prices hit a record as rally extends into a 6th straight year<\/p>\n<p>Jones said auto use is 84% of palladium demand, and with public transportation losing its <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eal during the pandemic, cars have been perceived as a \u201csafer\u201d mode of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>. \u201cAuto demand is coming back quickly, and the market can see that,\u201d he said.<\/p>\n<p>Sister metal platinum, meanwhile, has underperformed palladium, as its main use is in diesel-powered vehicles, he said. \u201cThat sector of autos is still out of favour following the famous Diesel gate,\u201d he said, referring to the 2015 Volkswagen emissions scandal.  July platinum<br \/>\n        PLN21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/218196645\/delayed\" class=\"positive\">+0.37%<\/bg-quote><\/p>\n<p>        PL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210261555\/delayed\" class=\"positive\">+0.37%<\/bg-quote><br \/>\n       rose $1.70, or 0.1%, at $1,231.80 an ounce, trading around 14% higher for the year so far.<\/p>\n<p>Palladium\u2019s rise compares to a year-to-date loss of over 6% for gold, with prices for the yellow metal\u2019s June contract<br \/>\n        GCM21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210036734\/delayed\" class=\"negative\">-0.78%<\/bg-quote><\/p>\n<p>        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.78%<\/bg-quote><br \/>\n       settling at $1,776 an ounce, down $15.80, or 0.9%, on Tuesday.<\/p>\n<p>Tight supplies and strong demand for palladium helped lift prices for the metal above gold prices in 2019, and palladium\u2019s value has remained above that of gold\u2019s for most of the time since.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Palladium and platinum demand, meanwhile, may soon have a fresh reason to rise, amid their potential use in lithium batteries, said Jones.<\/p>\n<p>Electric vehicles \u201cwere the one power train that did not have significant platinum or palladium,\u201d but they might soon need these metals, he said, pointing to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> related to his company\u2019s subsidiary. <\/p>\n<p>Lion Battery Technologies, founded by Platinum Group Metals in partnership with Anglo American Platinum<br \/>\n        ANGPY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208377465\/delayed\" class=\"negative\">-2.91%<\/bg-quote><span>,<\/span><br \/>\n       supports the use of palladium and platinum in lithium battery applications, according to recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.miningweekly.com\/article\/pgms-in-all-drive-trains-if-lion-battery-initiative-is-successful-anglo-2021-04-29\/rep_id:3650#:~:text=JOHANNESBURG%20(miningweekly.com)%20%E2%80%93,Benny%20Oeyen%20said%20on%20Thursday\" class=\"icon none\">report on Mining Weekly.<\/a><\/p>\n<p>Palladium and platinum are known as \u201cpowerful\u201d catalysts, said Jones. \u201cIn a world where we want cleaner and more efficient [vehicles,] these special metals are in demand.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Myra P. Saefong\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Myra_P_Saefong\"><\/span>Myra P. Saefong<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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