Palladium reaches 3-year high as gold sags

Wednesday, May 28: Palladium rose to the highest since August 2011 after mining companies and the main labor union failed to reach an accord to end a pay strike in South Africa, the second-biggest producer. Gold fell to a 15-week low. Palladium has risen 12 percent since Jan. 23, when the workers walked out. The producers say they have lost 20 billion rand ($1.9 billion) in revenue.