The price of palladium exceeded gold quotes for the first time in 16 years

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The price of palladium during trading in the spot market on Wednesday reached a record level of 1 thousand 236 dollars 48 cents per troy ounce for the first time in 16 years having exceeded the quotes of gold at 1,235 dollars 37 cents per ounce. The demand for palladium in the production of cars with gasoline engines has increased significantly since consumers ceased to purchase diesel engines. This was the reason for the increase in prices for palladium, the supplies of which in the global market are limited. For 4 months, the price of precious metal went up by one quarter. At the same time, gold has been demonstrating weak dynamics.

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