Palladium Panic-Bid To Record Highs As Shortage Fears Mount
by Tyler Durden
ZeroHedge.com
Wed, 01/03/2018
Palladium was up 55% in 2017 – the best performing commodity in the world – and if the first two days of this year are anything to go by, 2018 will see a repeat.
Palladium inventories in warehouses tracked by Nymex shrank 25 percent in December, capping a fourth straight annual decline, the longest streak since 2000.
Amid shrinking inventories and still strong (credit-fueled) auto production (and sales), Bloomberg reports the metal used to curb pollution from gasoline-fueled engines climbed to a record on the New York Mercantile Exchange as the dollar weakened for a fifth straight day.
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