A sharp rise in the price of palladium has caused the appearance of a “bubble”, Anglo American CEO, Mark Cutifani, said during the Financial Times Commodities Global Summit in London. At the same time, Cutifani does not expect its steady decline in the market in the foreseeable future, although he believes that automakers may in the future abandon palladium and switch to cheaper platinum when creating new car models. When this happens, the cost of platinum will increase significantly. According to the Financial Times, palladium over the past 7 months has risen in price by more than 80% to 1 thousand 522 dollars 49 cents per troy ounce. On Thursday, the cost of palladium fell by 2.4%, amounting to 1 thousand 418 dollars 53 cents per ounce, after falling more than 5% on Wednesday.