Palladium soars to record on tight supply, bets on China demand

Palladium surged to a record on bets that the Chinese auto industry will buoy global demand amid tight supplies of the metal used in vehicle pollution-control devices. Spot palladium rose as much as 4.6 percent to an all-time high of $1 180.26 an ounce, capping a third straight gain. The commodity is up about 9% this year through Thursday, the best performance among major metals.