| Platinum and palladium futures rose Tuesday, as traders swooped in to take advantage of beaten-down prices in the precious metals. Palladium for December surged 2.7%, the biggest one-day gain for the most actively traded contract since Oct. 13, 2013. The contract ended up $20.90 at $787 a troy ounce on the Comex division of the New York Mercantile Exchange.
Platinum for January delivery, the most actively traded contract, settled up $12.70, or 1%, at $1,261.90 a troy ounce. Both metals, which are used primarily as a component in auto exhaust filters, have been pummeled in recent months, as an absence of growth in Europe and an economic slowdown in China sparked fears of weaker car demand. Platinum is down 17% from its highs of the summer, while palladium is off 15%...............................................Full Article: Source
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