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Palladium soars to all time highs on supply deficit

Palladium, one of the four monetary metals along with gold, silver, and platinum, surged over 4% today and reached close to $2,900/oz. Palladium is often a leading indicator of other three precious metals.

Click here for real-time chart for spot palladium

Platinum prices are still well below their all time high set about 10 years ago, and gold is closing in $1,800 after peaking at close to $2,100 last summer.

Here is more about the palladium supply deficit via

"The palladium market has been in a production deficit for several years, and tighter pollution standards in Europe and China are spurring demand for the metal, which is commonly used in catalytic converters to curb emissions in gasoline-powered vehicles."

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