Palladium prices have reached their highest versus gold in more than two years this week as a rally in risk assets boosts the appeal of industrial commodities, with further rises likely as the economic recovery gains impetus.
The ratio of gold to palladium slid to 1.81 on Monday, its lowest since March 2011, as firm U.S. jobs data fuelled hopes the U.S. recovery is on track, and after Standard & Poor’s revised up its sovereign credit outlook for the United States.
Rising optimism over the U.S. economy has battered gold, which is widely viewed by investors as a hedge against financial market instability.
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