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11/16/2018, 6:30 PM (Source: TeleTrader)
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Gold trades in green; palladium sets record high

Spot prices of precious metals rose notably on Friday on risk aversion, helped in a large extent by the dollar's drop, which spurs demand by making the asset class cheaper for holders of other currencies. Stock indexes in the United States failed to hold above water following a weaker start as investors showed caution amid signs of a deceleration in the growth of the world's gross domestic product, not least due to the impact of the trade war with China. In other news, Brexit uncertainties were the loudest signal today among the numerous woes faced by European economies.

Palladium reached a record high today for the second day in a row, at $1,186.71 per ounce, threatening to surpass gold in value. The material has recently diverged, adding 33% in valuation in the past three months, as the space higher for the yellow metal was capped by the dollar's gains and the increasing correlation with valuations of conventional investments.

Gold rallied 0.7% at 6:28 pm CET, selling for $1,221.85, after a climb to an eight-day high of $1,225.36 for one troy ounce. Silver gained 0.48% to $14.37 and platinum rose 0.38% to $844.96. ​Palladium was up 1.4% at $1,175.97 per ounce.

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