Palladium outshines gold in becoming the most valuable metal

December 06, 2018: Gold flanked higher during early hours on Thursday as growing risk aversion weighed on the dollar, while palladium continued to be more valuable than gold, with prices soaring by around 50 percent in less than four months to record levels.

Spot gold was up 0.2 percent at $1,239.86 per ounce, as of 0429 GMT, while U.S. gold futures were 0.2 percent higher at $1,244.9 per ounce.

Spot palladium rose 0.1 percent to $1,245.00 per ounce, hovering near its record high hit in the previous session.

On the other hand, Oil prices fell parallel with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October, a report by CNBC said on Thursday.

International Brent crude oil futures were at $61.04 per barrel at 0531 GMT, down by 52 cents, or 0.8 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $52.38 per barrel, down by 51 cents, or 1 percent.

Posted on: 2018-12-06T12:39:00+05:00

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