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11/6/2020, 9:40 PM (Source: TeleTrader)
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Palladium rallies 4.5% to hit 8-month high

Prices of palladium soared over 4% on Friday to reach the highest level since March. The metal mostly used in catalytic converters jumped after a reported increase in German industrial production.

Other precious metals traded higher as well, as investors continued to focus on the United States elections, where Democrat Joe Biden looks to be on the path to victory.

After hitting a daily high of $2,505.51 per ounce, palladium surged 4.49% to sell for $2,491.68 per ounce at 3:40 pm ET. Spot gold added 0.18% to go for $1,952.27 per ounce at 3:46 pm ET and silver climbed 0.81% to sell for $25.57 per ounce. Platinum was up 0.13% to change hands for $897.36 per ounce at 3:47 am ET.

Breaking the News / NP