The price of palladium rose to historic highs

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The spot price of palladium during trading rose on Tuesday by 1.8%, amounting to 1,144.5 dollars per troy ounce. The rise in the value of the metal to the intraday historical maximum was caused by increased demand from hedge funds on fears of a palladium supply shortage. Experts expect that the stimulus measures taken by China, the main global consumer of palladium, may increase the demand for this metal. Economists at Citigroup predict a continued palladium deficit in the global market until the end of 2020. According to their estimates, this year the demand for the metal will exceed supply by 481 thousand ounces. The cost of palladium since the beginning of 2018 has grown by about 7%.

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