Yes, stocks keep hitting records. But so does this precious metal (no, not gold) [MarketWatch]
JOHNSON MATTHEY S/ADR (JMPLY)
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Source: MarketWatch
Why palladium prices keep hitting new highs and rhodium has already rallied by over 40% this year The year is young but two commodities have already posted impressive gains, with palladium extending its run of record highs and rhodium climbing more than 40% in the first few weeks of 2020. It’s “very much a fundamental story” for both metals, says Nikos Kavalis, founding partner of precious-metals consultancy Metals Focus. “Demand from the automotive sector has been growing as a result of tightening emissions legislation, most notably in China.” The majority of the world’s palladium and rhodium supplies are used in autos for catalytic converters, which control exhaust emissions. Futures for palladium PAH20, +3.59% consistently hit record highs in 2019, ending the year with a gain of almost 60%. They settled at a record $2,224.90 an ounce on Jan. 17. Rhodium has seen spot prices climb by more than 40% from the end of last year to $8,750 an ounce on Jan. 17, from about $6,050 an ounce
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