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4/21, 4:46 PM (Source: TeleTrader)
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Palladium surges over 4%, reaches all-time high

The price of palladium soared more than 4% on Wednesday, reaching another record high.

The surge came amid rising concerns over the shortfall in the metal supply, and was backed by the traders' growing optimism regarding the recovery in the auto industry, which heavily relies on palladium.

Palladium touched $2,896.83 before paring the spike to jump 4.06% and go for $2,873.92 at 10:52 am ET. Gold gained 0.70% to go for $1,791.00 per ounce at 10:54 am ET, while silver jumped 2.08% to sell for $26.38 per ounce at the same time. A minute later, platinum increased by 1.50%, going for $1,207.66.

Breaking the News / BU