Palladium has had quite a run so far in 2014. That trend continued last week when the white metal hit a new 13-year high on increased sanctions on Russia and a decrease in output from South Africa. Specifically, palladium for September delivery, the most actively traded contract, touched $888 on the New York Mercantile Exchange on July 17, its highest level since 2001.
To be sure, palladium prices are on the rise. An article from Platts released on Friday suggests that prices may reach as high as $1,000 per ounce before the end of the year. That said, Mitsui strategist David Jollie has cautioned that some palladium investors may soon decide to quit while they’re ahead.
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