Forbes reported that palladium rose to its highest price in 11 months on the back of concerns that sanctions on Russia could disrupt the country's exports of the precious metal.
Palladium Market News Directory
The Wall Street Journal reported that in January, Russia increased its output of gold, palladium and platinum by a respective 7.3, 4 and 40 percent.
DailyFX reported that on Wednesday, palladium rose to $729 per ounce, an increase of over $13, after a Chinese government report showed that exports from the country rose by 10.6 percent in January. That's nearly six times more than analysts projected.
Mineweb reported that according to Barclays plc (NYSE:BCS), platinum and palladium are likely to outperform both gold and silver in 2014.
FastMarkets reported that although other precious metals are trending downward as the week draws to a close, palladium remains steady.
Bloomberg reported that Barclays plc (NYSE:BCS) sold $61 million worth of one-year notes tied to palladium, which in 2013 was the only precious metal that didn't lose value. That is the largest offering connected to the metal in at least four years.
International Business Times reported that according to Norilsk Nickel (MCX:GMKN), sales from the Russian government's "secret" palladium stockpiles could come to an end by 2014.
Nanowerk News reported that chemical engineers at Rice University have found that engineered nanoparticles of gold and palladium are more efficient at breaking down nitrites, "a common and harmful contaminant in drinking water," than any of the other catalysts they have studied previously.
Reuters reported that yesterday, spot palladium's 50-day moving average was set to break above its 200-day moving average, "a highly bullish formation known as a golden cross." The movement suggests that the metal has room to rally in the next six months or so.
Bloomberg reported that today, palladium futures for December delivery rose 0.4 percent, to $719.50 per ounce, after earlier sinking to $713.30, their lowest price since October 17.