4/30, 10:51 AM (Source: TeleTrader)
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Palladium tops $3,000 for first time ever

Palladium reached a record high on Friday, surpassing the $3,000 mark per ounce for the first time ever as traders appear convinced in more supply issues.

The precious metal rallied over 22% since the beginning of the year, including a surge last month when the world's largest palladium producer Nornickel announced mine closure due to heavy flooding.

Palladium was up 0.95% to $2,986.34 per ounce at 4:57 am ET after hitting a high of $3,011.62 minutes earlier.

Breaking the News / JC