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Palladium surpasses 1600 dollar amid rising precious metals

2019-07-11 09:16 am | Resource: News | No Views : 73

 Palladium surpasses $ 1600 amid rising precious metals

The stakes in the US economy slowed the demand for safe havens on Thursday, including gold and asset class. Palladium exceeded $ 1600 an ounce for the first time since March 22 and is approaching a record high. The Federal Reserve strengthened its interest rate cut later this month as investors analyzed the data in a minutes from the June meeting after a testimony from President Jerome Powell in Congress. Strong data in the latest job report in the United States still left uncertainty in trade and underdevelopment as the main "cross streams" and suggested that mitigation measures might be justified.

The Wall Street futures contract is tempered by interest rate hikes

US stocks rose in the pre-market market on Thursday after Federal Reserve Chairman Jerome hinted that the rate could be cut later in the month as he testified before the House Financial Services Committee on Wednesday. Investors were comfortable with reports that the White House was considering suspending some sanctions against North Korea if the latter agreed to dismantle the Yongbyon nuclear research center and halt its nuclear program. In other news, US economic data was set to include initial jobless claims ahead of the opening bell.
  • The Dow Jones Industrial Average rose 0.17%, at 10:29 am CET.
  • The Nasdaq 100 rose 0.24% and the S & P 500 gained 0.19%.

The euro rose 0.20% against the dollar to sell at 1.1274 at 1029 GMT, while the British pound jumped 0.25% against the dollar to 1.2536 at the same time.

Lower borrowing costs lead to lower pressure on return and may support consumer price growth, where precious metals are considered the most conventional shield. Standard government bonds rose as the yen and Swiss franc rose, but stocks also rose slightly while the dollar fell.

Precious metals trading
  • Gold reached an eight-day high of $ 1427.12 and rose 0.33% to $ 1423.54 an ounce.
  • Silver rose 0.39% at $ 15.29, as of 10:45 am CET.
  • Platinum rose 0.55% to $ 831.52 an ounce.
  • Palladium jumped 0.48% to $ 1598.49 an ounce from $ 1602.26.

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