Palladium, a PM , more than doubled since the FED started raising rates and is making new all time highs closing above $1300.
Common, Palladium is a total outlier driven entirely by low supply and high demand for car parts, nothing to do with the broader market or interest rates, all other PMs tend to underperform the markets when hawkishness is in the air
And as it relates to Palladium, wait until one of these car manufacturers announces that they’re switching from Palladium to Platinum.. don’t think it’ll reach any new all time highs then, it’s one announcement away from a huge permanent drop, although that might never happen.