Palladium powered above $1 500 to hit a record, extending a powerful rally driven by an acute shortage of supply as car manufacturers scramble to get hold of the material to meet stringent emissions controls.
Spot palladium rose as much as 1.7% to $1 505.46/oz, and was at $1 501.89 at 11:38 a.m. in Singapore, with prices set for a seventh monthly gain. In other precious metals, gold rallied to a 10-month high.