Spot palladium rose to yet another record as delegates at a key industry conference predicted prices will extend their rally into 2020.
Spot palladium gained for a second day, rising as much as 0.8% to a fresh record of $1,727.73/oz. Other precious metals were mostly little changed, with spot gold at $1,494.93/oz by 10:28am in London. Bloomberg Dollar Spot Index little changed.
The metal used mainly by the automotive industry has rallied 60% in the past 12 months amid tight supplies. The latest jump pushed the 14-day relative strength index to 70, a signal for some traders that an asset may be overbought.
Source : Bloomberg