Palladium prices rose to the highest level in more than 13 years as a nearly five-month-old miners' strike in South Africa has squeezed supplies of the metal.
Palladium for September delivery, the most actively traded contract, closed up $US5.60, or 0.7 per cent, at $US860.15 a troy ounce on the Comex division of the New York Mercantile Exchange.
It was the highest close since February 2001.
Miners in South Africa went on strike in January for the second time in two years, demanding higher wages and better working conditions.
The latest round of talks between miners and mining companies ended without a resolution.
Investors and traders say global supplies of palladium are starting to run low, meaning there could be a shortage if miners don't go back to work soon.
South Africa produces about 40 per cent of the world's palladium, which is mainly used in automobile exhaust filters.
Platinum, which is often mined together with palladium and has also been affected by the strike, closed at $US1,481.10 a troy ounce, down 0.1 per cent.
Gold rose $US1.10, or 0.1 per cent, to $US1,261.20 a troy ounce.
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