Palladium leaps to tap record
Palladium set a fresh record high on Friday amid expectations that China’s economic stimulus would drive demand for the autocatalyst metal, while news that Russia may ban exports of precious metal scraps compounded worries of a supply deficit.
Gold also rebounded, moving back above $US1,300 an ounce, as the US dollar dipped on weak US economic data.
Chinese Premier Li Keqiang said Beijing was open to additional monetary policy measures to support economic growth this year.
Spot palladium surged to a record $US1,567.5 an ounce earlier in the session, with the precious metal later trading 0.3 per cent higher at $US1,562.39 per ounce.
Reuters
