Gold approaching $1800

Gold approaching $1800 and silver over $35, while platinum and palladium gained $10 and $13 respectively, this reported by Pan American Metals of Miami on all four precious metals yesterday, November 8, 2011.

Gold and silver while gained on safe-haven demand due to the ongoing crisis in the European Union, palladium actually made the greater gains today, percentage wise. 

Increasing car sales mean increased demand for palladium at the same time as Russia is casting doubts on the reliability of future supplies. This is a combination that is obviously inclined to push up the price of palladium. Rumor has it that Russia's stockpile of palladium may be running out very shortly, causing palladium to be in deficit."Gold and silver tend to dominate media attention but investors should take a serious look at platinum and palladium in terms of future gains," says Bill Hionas of Pan American Metals of Miami. "The economics of supply and demand are definitely working in favor of palladium at the present time."