Palladium Scores Best Week In Nearly Four Years

By Myra P. SaefongMarketWatch Pulse

Palladium futures climbed Friday to tally a weekly gain of more than 9%--their largest weekly gain in almost four years thanks to the Volkswagen scandal. Analysts have explained that the metal rallied this week because it is widely used to make catalytic converters for gasoline vehicles, rather than diesel vehicles, which are involved in the scandal. December palladium settled at $667.60 an ounce on Comex, up $11.15, or 1.7%, for the session. It gained 9.3% for the week, the biggest weekly gain since December 2011.

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