Platinum and palladium continue to rise after launch of new ETFs, signs of recovery grow

Platinum, palladium lead metal prices higher

NEW YORK — Precious metals prices are rising again, led by strong demand for platinum and palladium.

Platinum and palladium both touched new yearly highs Tuesday following the recent launch of two exchange-traded funds that invest in the metals, said Jeffrey Nichols, a senior economic adviser for Rosland Capital, a retail precious metals dealer.

More signs of improving global economic conditions, especially in China and India, have also pushed the two metals higher.

Platinum for April delivery surged $43.30, or 2.7 percent, to settle at $1,639.40 an ounce. Palladium for March delivery climbed $14.20, or 3.2 percent, to $461.95 an ounce.