Why Did The Price Of Palladium Just Zoom Past Gold?

palladium bars

From Frank Holmes: Palladium might not fill headlines the way gold does, but it’s been on fire lately. Not only has the precious metal been the best performing commodity for two years straight, but its price also just shot past gold for the first time since 2001. For the first time ever, it broke through $1,400 an ounce last week before pulling back somewhat. From its 52-week low set in August, palladium has climbed almost 70 percent. It’s added about 16 percent in the past 30 trading days alone.

The US Global GO Gold & Precious Metal Miners ETF (GOAU) was trading at $11.55 per share on Wednesday afternoon, up $0.16 (+1.40%). Year-to-date, GOAU has declined -11.22%, versus a -1.45% rise in the benchmark S&P 500 index during the same period.

GOAU currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #6 of 35 ETFs in the Precious Metals ETFs category.

This article is brought to you courtesy of Forbes.