The US Defence National Stockpile Centre (DNSC) says it will stop all sales of platinum and palladium because its inventories have been depleted.

The centre says it has ceased all further sales of the precious metals until the end of the financial year, which finishes at the end of September.

"All of the palladium is gone; there is nothing left," a spokesman for the DNSC told Platts.

There are still 8,380 oz of platinum held in other government agencies, and also 16,000 oz of iridium with the DNSC.

Back in 1999 the DNSC had 1,099,428 oz of palladium, before its sales programme began.