Palladium and gold surpassed gold for the first time in 16 years

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      Palladium prices surpassed gold for the first time since 2002, soaring by about 50% to record highs in less than four months, while gold failed to grasp what appeared to be a bullish market.
Spot palladium rose from about $832 an ounce in mid-August to a record high of 1,263.56 on Wednesday, thanks to continued supply shortages, strong demand and speculative buying.
On Wednesday, the price of palladium and gold was more than $25 an ounce higher than that of gold, which was twice that of palladium two years ago.
Spot gold stagnated around $1,235, mainly due to the appreciation of the dollar this year.
The German commercial bank said that the rise in palladium prices was related to speculative buying, reflecting a substantial increase in net long positions.
"In the short run, more speculators will come in and push up prices, especially in the very small and illiquid palladium market," the bank said.


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