Precious Metals Spike on Inflation Fears

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.

Click here to read the full SMH report.