Palladium is outgunning other precious metals, with a surge to record highs putting it within a whisker of parity with gold for the first time in 16 years. Tight supplies, large deficits and resurgent interest from speculative investors have sent palladium prices rocketing 40 percent from a low in August. The metal, used chiefly in emissions-reducing autocatalysts for vehicles, reached an all-time high of $1,185.40 an ounce on Friday - a mere $35 short of gold at around $1,220. “What we are seeing is the culmination of several years of sustained market deficits,” said Mitsubishi analyst Jonathan Butler. “Clearly it ... (full story)