Palladium reaches an all-time high on account of reduced supply and increased demand

MG News | January 17, 2019 at 10:44 AM GMT+05:00

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January 17, 2019 (MLN): Palladium reached an all-time high on Thursday, led by lower supply and increased demand by auto catalysts, whereas gold remained steady on the back of a sturdier dollar, countering expectations of a pause in Federal Reserve's rate-hiking.

The price of palladium went up by over 60 percent since marking a rack in mid-August. Spot palladium was up by 0.1 percent at $1,360, as of 0350 GMT, after earlier hitting a record high of $1,366.50.

On the other hand, spot gold was steady at $1,292.76 per ounce, while U.S. gold futures dipped 0.1 percent to $1,292.30 per ounce.

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