03.07.2020 PALLADIUM Daily Analysis

03.07.2020 PALLADIUM Daily Analysis

In case, you’re wondering: Palladium is still alive, and it’s next wave, like the COVID-19 is coming—through in a good way. Having beat gold prices last year, palladium has stayed at a premium to be crowned by the media as the costliest- traded metal—actually that honor goes to rhodium, a precious metal that’s so scarce that it’s just as well that palladium wears the crown spot price of palladium scaled a record high of $2,881.33 an ounce on Feb. 23, just before the coronavirus pandemic began crippling the world economy. Since that February high, however, palladium has been locked in an $800 trading range between $1,600 and $2,400. But its gap versus gold hasn’t narrowed much, with the spot price at $2,005 and futures at $2,040 on Friday against spot gold’s $1,735 and gold futures’ $1,737.