Experts predict a further increase in the cost of palladium


Since the beginning of 2019, palladium has risen in price by 30%. In January, its price reached the highest level among all precious metals for the first time since 2002, surpassing the price of gold. In June, its price increased by 16% and now amounts to approximately 1,555 dollars per ounce. This is almost 140 dollars higher than the price of gold. Experts predict continued growth in the price of palladium, which will be promoted by such factors as the weakening of the dollar and the implementation of plans by many states to reduce harmful emissions from the operation of engines of new car models. Uncertainty about the growth rate of the global economy forces investors to transfer money into safe assets, and the demand for precious metals increases. Despite the weakening of global auto sales, the tightening of emission requirements for their engines increases the demand for palladium. Thus, in recent months, there has been an increase in imports of palladium to Hong Kong amid a tightening of emission standards in China. Prices for this precious metal have been pushing up the demand for palladium in excess of the supply over the past few years. Its output in 2018 declined by almost 7%, and the palladium deficit is predicted for the future in the world market.

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