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SMH reported precious metals spiked as a move by major central banks to add liquidity to global markets.
SMH reported precious metals spiked as a move by major central banks to add liquidity to global markets.
As quoted in the market news:
Palladium gained 3.8 per cent to $US605.47 an ounce.
Leon Westgate, analyst at Standard Bank, said that palladium prices were boosted by a big wave of short covering after a growing number of investors had been recently bearish on the industrial metal.