Palladium Climbs to the Top of Precious Metals Prices

NEW YORK, Jan. 21, 2020 /PRNewswire/ — Palladium has become the most valuable of the four major precious metals. It is one of the six platinum-group metals, which includes ruthenium, rhodium, osmium, iridium and platinum. Palladium is used as a crucial component in pollution-control devices for cars and trucks where it helps turn toxic pollutants into less harmful carbon dioxide and water vapor. Outside the auto industry, the metal is used in electronics, dentistry and jewelry. According to a report by Bloomberg, Palladium metal is mined primarily in Russia and South Africa and is mostly extracted as a secondary product from operations that are focused on other metals, such as platinum or nickel. What is driving up the prices of the metal is a supply shortage and increasing demand. Russia’s MMC Norilsk Nickel PJSC is the biggest palladium producer and shares of the company surged on Monday during trading on the Moscow Exchange, hitting an all-time high. The metal, which was trading at about USD 2,500 an ounce on Monday, is now more expensive than gold. It has jumped by more than 25% in the last two weeks alone, and almost doubled in value over the last year, according to Russia Today. Palladium One Mining Inc. (OTC: NKORF) (TSX-V: PDM), PolyMet Mining Corp. (NYSE: PLM), Platinum Group Metals Ltd. (NYSE: PLG), Group Ten Metals Inc. (OTC: PGEZF), New Age Metals Inc. (OTC: NMTLF)

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