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Palladium soars to within sight of $3,000 in record run


Palladium soars to within sight of $3,000 in record run
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Last Updated: Apr 23, 2021, 10:09 PM IST
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Synopsis
Many analysts expect a further run towards $3,000 as automakers ramp up purchases of the metal, worsening a supply shortage.
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Palladium jumped more than 3% to a record high of $2,925.14 per ounce, poised for a second straight weekly gain.
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Palladium extended its blistering rally to an all-time high within striking distance of $3,000 on Friday on supply concerns and bets for improving demand, while gold pulled back on strong US economic data.
Palladium jumped more than 3% to a record high of $2,925.14 per ounce, poised for a second straight weekly gain. ....

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PRECIOUS-Supply woes push palladium to record high, gold up more than 1%


Focus turns to ECB policy meeting on Thursday
Gold hits near two-month peak at $1,797.41/oz (Updates prices)
April 21 (Reuters) - Auto-catalyst metal palladium hit a record high on Wednesday fuelled by supply concerns and wider gains in precious metals prices, with gold jumping more than 1%.
Palladium surged to an all-time high of $2,891.20 per ounce and was up 4.3% at $2,880.10 per ounce at 1:41 p.m. EDT(1741 GMT).
“We’re looking at pretty decent automotive and industrial use for this catalyst,” said Bart Melek, head of commodity strategies at TD Securities, adding that with a very tight market projected, it would be difficult to source the metal. ....

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Palladium shoots to new records as deficit-fuelled rally reignites

Palladium shoots to new records as deficit-fuelled rally reignites
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PRECIOUS-Gold rises as U.S. Treasury yields, dollar pause


Gold could stay in $1,760-$1,810 range in near-term- analyst (Updates prices)
April 20 (Reuters) - Gold prices rose on Tuesday as a drop in U.S. Treasury yields lifted the non-yielding precious metal’s appeal.
Spot gold rose 0.5% to $1,777.43 per ounce by 2:01 p.m. EDT (1801 GMT). U.S. gold futures settled up 0.4% to $1,778.40.
“Gold’s recent upward momentum has been driven by the fact that bonds are well bid and the USD is under pressure,” said Tai Wong, head of base and precious metals derivatives trading at BMO.
U.S. Treasury yields eased, while the dollar index was up 0.2% but hit its lowest level in about seven weeks earlier in the session. ....

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PRECIOUS-Gold edges up on weaker dollar and U.S. yields


Dollar drops to near seven-week low
Spot gold may slide into $1,744-$1,758/oz range - technicals (Recasts, adds comment, updates prices)
April 20 (Reuters) - Gold prices inched higher on Tuesday, hovering below a seven-week peak hit in the previous session, bolstered by a pullback in U.S. Treasury yields and a weaker dollar.
Spot gold was up 0.1% to $1,770.40 per ounce at 1215 GMT, after hitting $1,789.77 on Monday, its highest since Feb. 25. U.S. gold futures climbed 0.1% to $1,772.70 per ounce. “The fact that the bond market has seemed to stabilise a little bit” is helping gold, said StoneX analyst Rhona O’Connell. ....

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