The greater demand for automotive vehicles could help boost palladium prices. Palladium is used to manufacture autocatalysts found in gasoline vehicles. The device helps convert toxic particles in the exhaust of an internal combustion engine to less toxic byproducts.
The ETFS Physical Palladium Shares ETF (NYSEArca: PALL) has gained 3.8% over the past week. PALL, though, is down 2.9% year-to-date.
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Max Chen contributed to this article.