Palladium price tops 1000$ for the first time in last 16 years

Baku. 16 October. REPORT.AZ/ Palladium climbed above $1,000 / ounce for the first time since 2001 as demand grows for the metal in pollution-control devices for gasoline-powered vehicles.

Report informs referring to Bloomberg agency palladium prices have advanced 47% from the beginning of this year. Price increase was caused by rise of gold and platinum in recent days. In 2017 gold advanced 14%, platinum 4,7%, silver 9%.

70% of palladium is used for production of catalytic converters for vehicles, 10% in electronics, 5% in chemical industry, 5% medicine, 5% investment and 5% in jewelry.