NY palladium rallies to 15-month high at $231/oz

Newswire

NEW YORK, Oct 26 (Reuters) - Palladium futures in New York rallied 4.3 percent in late trading on Wednesday, as investors and speculative funds switched money into precious metals other than gold, dealers said. December delivery palladium on the New York Mercantile Exchange shot up $9.45 to $231 an ounce in the last hour of trading, the highest for futures on a weekly spot basis since July 2004. The metal, which is used mainly in automotive catalytic converters to clean exhaust fumes and ...

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