SHANGHAI, Aug. 21 (SMM) – NYMEX palladium has surged by more than 355 per cent since the beginning of the year, and NYMEX platinum advanced by more than 8 per cent over the same period.
Many suppliers held back goods after price gains, and some investors hoarded goods because of its investment value.
Volatile international conditions, underestimated value and market speculations were major three drivers behind its gain, said a person from one large domestic company, outshining gold and platinum.
Palladium price is expected to hover at highs due to supply deficit among other positive factors.
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