Palladium rocketed to an all-time high of US$2,875 on Friday. Output disruptions mixed with forecasts of rising automotive demand are fueling the uptick.
Gold was moving towards a third week of gains as headwinds related to US 10 Year Treasury yields and the American dollar dissipated.
As yields and the greenback consolidated, concern over US President Joe Biden’s tax plan announcement and the US Federal Reserve’s meeting next week aided the yellow metal’s growth.
Values moved from US$1,775.90 per ounce to a four week high of US$1,796.50 by Wednesday (April 21).
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Metals Weekly Round-Up: Gold Supported by Weaker Dollar
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The gold price reached a four week high of US$1,757 per ounce this session following a disappointing performance in March.
Gold reached a four week high of US$1,757 per ounce this session after a disappointing March. The early April rally comes courtesy of weaker 10 year Treasury yields and a lower US dollar.
After slipping to a six month low of US$1,721 on Monday (April 5), the yellow metal made two sharp gains, breaching the US$1,750 threshold on Thursday (April 8).
As the dollar and yields reversed course late in the week, gold was weighed down to US$1,745.
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London based creative agency Don’t Panic collaborates with Anonymous Content and refugee athletes to tell the powerful story of ‘The Journey’
Refugee Olympic and Paralympic Team athletes have a story like no other. Released today, 6th April, to mark the UN’s International Day of Sport for Development and Peace, UNHCR’s latest social media video ‘The Journey’ tells the dramatised story of a female refugee who has had to flee her home to escape conflict and persecution. The film, created by award-winning creative agency Don’t Panic, shows that the arduous journey to freedom isn’t an easy one, as her life is constantly on the line. Eventually, having reached safety, she stops running away from something and starts running towards something; a medal.