Deprecated: File /var/www/wp-content/plugins/amp/includes/widgets/class-amp-widget-categories.php is deprecated since version 2.0.0 with no alternative available. in /var/www/wp-includes/functions.php on line 5579

Deprecated: File /var/www/wp-content/plugins/amp/includes/widgets/class-amp-widget-archives.php is deprecated since version 2.0.0 with no alternative available. in /var/www/wp-includes/functions.php on line 5579

Deprecated: File /var/www/wp-content/plugins/amp/includes/widgets/class-amp-widget-text.php is deprecated since version 2.0.0 with no alternative available. in /var/www/wp-includes/functions.php on line 5579
Paladium tops gold - Zimbabwe Today
Notice: Undefined variable: fm_appid in /var/www/wp-content/plugins/facebook-members/facebook-members.php on line 71

Notice: Undefined variable: fm_appid in /var/www/wp-content/plugins/facebook-members/facebook-members.php on line 81

Paladium tops gold


Notice: Undefined variable: fm_appid in /var/www/wp-content/plugins/facebook-members/facebook-members.php on line 71

Gold just got left behind by one of its sister metals. After a demand-fuelled rally over the past four months that’s seen prices hit a record, palladium for immediate delivery topped gold following a surge  higher.

Palladium, which hasn’t traded at a sustained premium to gold in 16 years, has gained as buyers scramble for supplies of the metal used in vehicle smog-control  devices.

Demand has risen as consumers turn away from diesel toward gasoline-powered cars, which tend to use more palladium in autocatalysts.

“People are grasping for whatever ounces of material they can get” in the palladium market, Tai Wong, head of base and precious metals trading at BMO Capital Markets, said before Wednesday’s levels were hit.

“It’s very expensive to borrow, and that is perhaps the biggest factor driving the spot price higher.”

Palladium for immediate delivery climbed as much as 1,7 percent to a peak of $1 252,68 an ounce, and was at $1 251,88 at 09:09 in London, according to Bloomberg pricing. Spot gold was 0,2 percent lower at  $1 236,29.

“The supply of palladium is very restricted,” Chirag Sheth, a consultant with London-based Metals Focus Ltd, said by phone from Mumbai. “The narrowing of the ratio is as much about the strong performance of palladium as about the poor performance of gold.”

Source :

Check Also

Zimbabwe: Young Women Rallied to Participate in Economy


Notice: Undefined variable: fm_appid in /var/www/wp-content/plugins/facebook-members/facebook-members.php on line 71
By Rumbidzayi Zinyuke First Lady Amai Auxillia Mnangagwa has challenged young women to actively participate …

This function has been disabled for Zimbabwe Today.