Palladium surges past $1,500/oz for first time.

Byline: S. Kamal Hayder Kazmi

Palladium jumped above the $1,500 per ounce mark for the first time on Wednesday, propelled by a stark supply deficit, while gold steadied near a 10-month peak as doubts lingered over future rate hikes after the US Federal Reserve released its minutes. Spot palladium, which traded as high as $1,502 per ounce, was up 0.6 per cent at $1,488.50.

"Palladium's deficit is likely to persist for at least the next couple of years and there's limited...