10/23/2018, 12:42 PM (Source: TeleTrader)
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Palladium rises to record on low output, INF pullout

Precious metals held strongly in the green on Tuesday together with high-rated bonds amid a broad market selloff in stocks and oil. The valuations in the safe haven asset class were helped by the dollar's slight losses against major peers.

Palladium surpassed its all-time record from January 15 and hit $1,144.05 per ounce at 12:38 pm CET, a rise of 1.69% in the session, on concern the intention by the United States to withdraw from the Intermediate-Range Nuclear Forces Treaty, or INF, which it signed with the Soviet Union in 1987. Russia is a major producer, which spells risk for supply of the material used in catalytic converters for diesel car engines. Global supply has also been significantly lagging behind the growth in industry needs.

Gold was up 1% at $1,234.33 per ounce. Silver leaped 1.1% to $14.72 for one troy ounce and platinum rose 0.49% to $826.82.

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