Make Kitco Your Homepage

Palladium Pushes To 8-Mo. High; More Upside Likely

Kitco News

(Kitco News) - Palladium futures on Thursday scored an eight-month high of $1,053.40, as of this writing at mid-morning. The palladium bulls have the solid near-term technical advantage to suggest still more gains in the near term, including a likely challenge soon of the all-time high of $1,111.15 scored in January of this year. Fundamentally, reports say the sharp gains in palladium recently are mainly due to stockpiling of the precious metal by China due to a trade war with the U.S. and its associated uncertainties going forward , and because China is likely to ramp up its vehicle production in the coming years.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.