4/26, 4:44 PM (Source: TeleTrader)
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Precious metals up, palladium reaches new record

Precious metals traded higher on Monday, with the price of palladium soaring to another record high. The metal used in the auto industry to produce catalytic converters is extending its last week's rally that was seemingly caused by an expected supply deficit due to the increasing number of governments accelerating its plans to reduce greenhouse emissions.

Palladium jumped 2.31% to $2,920.00 per ounce at 10:38 am ET, after reaching an all-time high of $2,948.25.

Gold gained 0.14% to $1,778.93 per ounce at 10:39 am ET. Silver rose by 0.51% to sell for $26.14 per ounce a minute later. Platinum increased by 0.41% to change hands for $1,235.66 at 10:41 am ET.

Breaking the News / MS