The price of palladium topped $2 thousand per ounce

The cost of palladium today set a new historical record, exceeding $2 thousand per troy ounce.The price of the metall in the morning hours reached $2000.5, subsequently rolling back to $1945.45.

Experts attribute the rising cost of palladium to concerns about metal supplies. Also, the rise may be due to a sharp increase in demand in the automotive industry in Europe and China. Palladium is used in the manufacture of exhaust catalysts for gasoline engines, and since the largest countries are tightening environmental requirements for vehicles, demand for metal will continue to grow.

Last week the price of palladium once updated its historic high at $1914, for the first time overtaking the price of gold.