Palladium bull run lifts platinum index to 20-year high

The rally in the price of precious metals, which has seen the JSE’s platinum index reach its highest level in two decades, may be short-lived as fears mount over a possible global recession.

The spike in the platinum index has been supported by the rise in the prices of palladium and rhodium, which are used in the making of catalytic converters for vehicles. Palladium reached a record high this week, bolstered by concerns of supply shortages and fears that Russia’s strategic stockpile may be running out.