The price of palladium is moving to a historical maximum

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Plans by the US Federal Reserve to raise rates have reduced the interest of institutional investors in palladium, finversia.ru writes. The total assets of all exchange-traded funds are at a level below 900 thousand troy ounces, which is the minimum since September 2009. Over the three years of the continuous fall in assets of the ETF funds, palladium reserves have fallen by almost 3 times. However, the price of the metal continues to grow due to the increased demand for it from European consumers who refuse diesel engines. As reported by Bloomberg, palladium during trading on Wednesday went up by 1.2% to 1 thousand 82 dollars per troy ounce, confidently approaching the historical maximum.

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