Platinum Takes Limelight from Gold with Best Month in Four Years

Palladium is also up in all but one of the past 17 sessions.

by Eddie van der Walt and Ranjeetha Pakiam (Bloomberg)
Mine Web

A surprise rally in gold and silver caught the eyes of investors in the first half of the year. Now, platinum and palladium are shining brighter.

Platinum is up 12% in July, putting prices on track for the best month since 2012. Palladium is even better, jumping 17%, the most since 2008. By comparison, gold added less than 2% in July as it lost momentum after gains in the first half.

The two lesser-known precious metals, used in devices that control toxic car emissions, are benefiting from better auto sales in China, concern over labour in South Africa and loose monetary policy from central banks around the world.

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