Palladium, platinum jump on encouraging auto sales; other commodities also gain
By APThursday, April 1, 2010
Palladium, platinum jump on improving auto sales
DENVER — Palladium and platinum are getting a boost from encouraging news about auto sales.
The two metals led a broad rally in commodities prices Thursday as a shortened trading week closed.
Most auto manufacturers reported double-digit increases in March sales. That sent prices for palladium and platinum, which are used in making catalytic converters, to levels not seen for at least one-and-a-half years, says Fred Jheon of ETF Securities.
Gold, copper, energy and most grains rose as the dollar declined against other currencies. The key exception was corn, which fell.
Commodity markets are closed for Good Friday, heading into the Easter holiday weekend.
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