As Gold Eyes $1,800, Palladium Looks Past $3,000 – Investing.com

As Gold Eyes $1,800, Palladium Looks Past $3,000 – Investing.com

is back to making record highs as eyes a less stellar achievement—recapturing the key $1,800 berth it lost in late February.While the potential upward moves in the two coincide, palladium is unchallenged as the metal for purifying emissions from gasoline-engines in an auto market recovering from COVID-19.Gold, meanwhile, is still struggling with the narrative that it is the best hedge against the debasement expected from the trillions of dollars of US debt incurred under the pandemic—and the trillions more the Biden administration will likely spend on infrastructure and other recovery measures.At the outset, it's a tale of two metals, with palladium appearing supreme. Yet, it cannot be denied that if gold were to make a run for the high $1,800 level—and possibly take on $1,900 next—its positive rub on palladium could spur the autocatalyst metal to greater heights.Citigroup's base case is for palladium to reach a historic high of $3,000 during the next three months.The peak could even be $3,500 if disruptions at Norilskiy Nikel's (MCX:) Siberian mines—the largest palladium producing facility in the world—turn out to be worse than estimated, the bank said.On Monday, on New York's COMEX, as well as the spot price of palladium,