Platinum's discount to palladium hits 16-year-high

Platinum's discount to fellow precious metal palladium reached its highest level since 2001 on Thursday, as the latter soared on heightened vehicle demand and an ongoing supply deficit. Palladium hit a high of $1 022.70 on Thursday, just off a 16-year high from last week, while platinum hit a low of $887.50/oz, putting it on track for its biggest weekly loss in nine months.