Palladium...

Up $17.00 yesterday. What's going on that I missed in the news? Even silver is creeping back up. Maybe something to do with a possible Fed hike in interest rates?

 

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I think Palladium is pure speculation. No reason for it to be above Pt, and so close to Ag.

 

Other than the fact that it is significantly scarcer.

 

Rare does not always equal valuable.

 

You just asked for a reason. Pt and Pd are nearly identical in appearance and chemical properties and they have pretty much the same industrial uses. Pd USED to be considerably cheaper than Pt (about a third the price), so industry used to substitute the the much rarer Pd for Pt in industrial uses. Then Pd rose in value due to the demand.