mo4ch:>All that glitters isn't gold: Palladium hits all-time record as deficit boosts prices | Mo4ch News
The price for palladium has surged to record-high levels on lower supply and increasing demand for the precious metal that is vital for the auto-making industry. It continues to beat gold as the world's best commodity investment.Spot palladium soared five percent to $1,427 per ounce, having risen more than 10 percent so far this month. Spot gold increased by just 0.1 percent to $1,294.22 an ounce against a backdrop of various geopolitical concerns, including the US government shutdown, China’s economic forecast, Brexit, and US’ pending tariffs on European vehicles.The price for palladium, which is commonly used in emissions-reducing catalysts for vehicles, has skyrocketed more than 60 percent since mid-August. In December, palladium price overtook gold for the first time in 16 years, making the precious metal the most expensive in the world.“Any new high in the market is triggering additional buying… It is a good old-fashioned squeeze driven by tight fundamentals, strong momentum …