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11/28/2018, 6:26 PM (Source: TeleTrader)
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Palladium reaches record high

Palladium reached a record high on Wednesday, at $1,186.98 per ounce, after jumping over 3% during the session. Meanwhile, spot gold rose after it was nearing a two-week low earlier today, gaining momentum as United States Federal Reserve Chairman Jerome Powell delivered remarks at the Economic Club of New York.

Powell stressed the importance of "paying very close attention" to incoming macroeconomic statistics and added that the effect of an interest rate increases is to be fully known in "a year or more." In the meantime, Wall Street traded in the green, with the Dow Jones Industrial Average jumping over 400 points, while the dollar slid as the euro gained 0.52% against the greenback, to go for 1.1355 at 6:20 pm CET.

Gold rose 0.62% to go for $1,222.58 at 6:22 om CET, while the silver gained 1.32% to change hands for $14.33 at the same time. ​Palladium was up 2.70%, going for $1,183.08 at 6:24 pm CET, while platinum declined 1.66%, selling for $819.80 moments later.

Breaking the News / BM