A new day, a new record in palladium! Is there any stopping it from reaching another high? What’s next in store for the white metal?
If you thought gold had a good year, you were wrong. OK, maybe not wrong, but palladium enjoyed larger gains. Just look at the chart below, which shows the price of palladium. As you can see on the chart below, this metal gained almost 50 percent in 2019, rising from $1,270 to $1,900!
And if you thought gold started 2020 well, you were also wrong. OK, maybe not wrong, but palladium was the real star (although not as great a star as rhodium which has gone really supersonic recently). Let’s look at the chart below once again – the white metal skyrocketed from $1,900 to almost $2,500 in January!
Chart 1: Palladium prices (London Fix) from January 2019 to January 2020.
Actually, palladium has reached a record high, as the chart below shows. Compared with April 1990, when our data series starts, the price Of palladium increased almost twentyfold, from around $130 to almost $,2,500. It means that palladium is currently more expensive than gold or platinum!