Metals Focus said Tuesday that “it is only a matter of time” before palladium not only breaks through $1,600 an ounce but consolidates above this level. Spot metal hit a record of $1,613.90 an ounce in March, corrected all of the way back below $1,300 in May, then started climbing again. It was trading $11 lower to $1,533 as of 9:02 a.m. EDT. Most analysts characterize palladium as being in a large annual supply/demand deficit. The metal has been the strongest in the precious complex due to strong demand for use in automotive catalysts. “In spite of strong resistance being clear at the $1,600 level, we believe that ... (full story)