Palladium overtakes gold as most valuable metal

Wednesday, 05. December 2018 13:19

Palladium jumped to record levels on Wednesday as it traded at a session high of $1,247.53 per ounce, overtaking gold as the most valuable metal for the first time since 2002. The precious metal, which is used to convert toxic gases in cars to less harmful substances, has surged 25% in the past six months. Meanwhile, other precious metals traded with losses as gold fell off one-month highs reached on Tuesday.

Palladium added 0.66% to sell for $1,245.64 per ounce at 1:15 pm CET, while gold dipped 0.06% to go for $1,237.38 per ounce at 1:16 pm CET. Silver declined 0.31% to change hands for $14.48 per ounce at 1:16 pm CET and platinum was down 0.35% to go for $799.80 per ounce at 1:17 pm CET.

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Breaking the News / NP