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Precious metals rise and palladium jumps after Federal Reserve decision

2019-03-21 10:16 am | Resource: News | No Views : 183

 Gold prices rose Thursday to their highest level since Feb. 28, while palladium continued to hit record highs on Thursday.

The threat of a ban on some exports from Russia has raised fears in a market already under supply. Both palladium and platinum are used as catalysts to reduce emissions in cars, but palladium is used more in gasoline engines.

The rise in precious metals is due to support from the Federal Reserve's interest rate stabilization and exclusion of opportunities for raising this year. , The central bank indicated that there will be no further increase in interest rates this year. Federal Reserve Chairman Jerome Powell said the US economy will grow "at a strong pace" this year.

US stocks fell after the Federal Reserve's decision to stabilize interest rates

Stocks in Wall Street were mixed ahead of the market early Thursday morning, after the Federal Reserve's announcement yesterday that it keeps interest rates unchanged. Although the interest rate hike was expected in 2019 just three months ago

At the same time, across the Atlantic, EU leaders decide to decide whether they will agree to Britain's request to stay in the bloc until June 30.
  • The Dow Jones Industrial Average was down 0.37% at 11:30 am CET.
  • The Nasdaq 100 was steady at the same time
  • While the S & P 500 fell 0.19%.

 High Precious Metals
  • The spot delivery price rose 0.48% to $ 1318.89 an ounce, at 9:00 am CET.
  • Gold futures for April delivery rose 1.28% to $ 1318.90 an ounce, after hitting a three-week high of $ 1319.02.
  • The spot price of the metal rose 0.9% to $ 1617.7 an ounce, at 09:11 am. 

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