Palladium jumps above $1,900, targets $2,000 mark

Palladium prices rose during trading hours today, for the fifth straight day, hitting its all-time high and surpassing the highest record price posted by gold.

Palladium's gains came after mining have stopped in South Africa, the world's largest supplier of platinum and the second largest of palladium.

This came after a blackout for the seventh straight day in South Africa, which has affected government facilities and the country's industrial activities.

Palladium is used in the manufacturing of car components that reduce exhaust and pollutant carbon dioxide emissions.

Palladium prices continue to show a record-breaking run, due to the lack of supply and a surge in demand by automakers due to tougher environmental protection and pollution control restrictions by a lot of countries.

As for trading, palladium March futures surged 1.7% to $1,917 an ounce as of 14:09 GMT, and hit a session-high of $1,918 and a low of $1,883.7.