Mostly: Classical

[amarksp]

Palladium rising

Posted: Wed, 26 Oct 2005
[miningmx.com] --PALLADIUM rose to its highest level in eleven months and looks set to continue rising, reported Reuters.


"There is a wave of new money coming into the commodities complex and this trend will probably continue" Jeremy East, global head of precious metals at Commerzbank, told the news wire.

Palladium, a precious metal mainly used in jewellery and to clean car exhaust fumes, has managed to gain in strength, trading at $217/ oz.

According to Reuters, gains amongst the other precious metals, including gold which reached an all time high 2 weeks ago, has led to increased fund buying in thinly traded palladium.

"Relatively less liquid metals such as palladium could move dramatically higher with a comparatively lower investment," East said, noting a definite rise in physical demand for the precious metal.