Prices
Palladium price peaked near US$1,100 per troy ounce in January 2001 (approximately US$1340 in 2009 dollars) driven mainly on speculation of the catalytic converter demand from the automobile industry. Palladium is traded in the spot market with the code "XPD". When settled in USD, the code is "XPDUSD". Recent years' palladium surplus condition was caused by the Russian government selling off government stockpiles built up during the Soviet Era, at a pace of about 1.6 to 2 million ounces a year. The amount and status of this stockpile is kept as a state secret.
Read more about this topic: Palladium As An Investment
Famous quotes containing the word prices:
“To expect to increase prices and then to maintain them at a higher level by means of a plan which must of necessity increase production while decreasing consumption is to fly in the face of an economic law as well established as any law of nature.”
—Calvin Coolidge (1872–1933)
“United Fruit... United Thieves Company... it’s a monopoly ... if you won’t take their prices they let your limes rot on the wharf; it’s a monopoly. You boys are working for a bunch of thieves, but I know it ain’t your fault.”
—John Dos Passos (1896–1970)
“The earth only has so much bounty to offer and inventing ever larger and more notional prices for that bounty does not change its real value.”
—Ben Elton (b. 1959)