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Palladium Prices Soar to 13-Year High
Palladium futures rose to $860 per ounce on Wednesday, their highest since early 2001, the Associated Press reports.
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Palladium futures rose to $860 per ounce on Wednesday, their highest since early 2001, the Associated Press reports.
Supplies of the noble metal, which is used in automotive catalytic converters, have been squeezed by an unresolved miner's strike in South Africa. Analysts say prices also are being driven up by fears that sanctions against Russia, the world's biggest palladium producer, could dry up supplies.
The price of platinum, the second ingredient in catalytic converters, slipped slightly on Wednesday to settle at $1,481 per ounce.
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