Palladium Price Pushes To 8-Mo. High; More Upside Likely

New York (Sept 20)  Palladium futures on Thursday scored an eight-month high of $1,053.40, as of this writing at mid-morning. The palladium bulls have the solid near-term technical advantage to suggest still more gains in the near term, including a likely challenge soon of the all-time high of $1,111.15 scored in January of this year. Fundamentally, reports say the sharp gains in palladium recently are mainly due to stockpiling of the precious metal by China due to a trade war with the U.S. and its associated uncertainties going forward , and because China is likely to ramp up its vehicle production in the coming years.

As of 11am EST today, spot palladium surged up $16 to $1,053...while spot gold edged down $1 to $1,205 and spot silver slipped 5 cents to $14.27.

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