Precious Metals-Gold Flat; Palladium Firms on Auto Recovery

Reuters Africa reports that palladium strengthened as the automobile sector recovers from the Japan earthquake in March.

The market news is quoted as saying,

Spot palladium was the only precious metal trading in positive territory, up 0.6 percent to $803.72.

A recovering auto sector in Japan, after the devastating earthquake and tsunami disrupted the supply chain, combined with a favorable outlook on fundamentals, has pushed the metal, used in autocatalysts, to a three-month high of $807.50 earlier this week.

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