What Lies Ahead of the Decade-Best Commodity ETF Palladium? Zacks.com 12/21/2020
After a surge in 2019, palladium price momentum has shown no signs of a slowdown in 2020. The rally has mainly been backed by growing global demand and stagnating supply. “There are few well-established palladium mines” while demand has been on the rise on increased consumption of gasoline engines.
Physical Palladium ETF PALL is up 21.1% this year. In fact, investors should note that the fund has added 174.2% in the past decade.
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The automotive industry, mainly involved in the manufacturing of catalytic converters for vehicles, is a key driver for palladium. Stringent emission control norms have been fueling demand for Palladium-using, petrol-fueled cars as governments around the world look to fight climate change.