Palladium

Weak dollar, Greek debt propel gold to 3-week high

Palladium Investing

Reuters reports gold hit its highest in more than three weeks as worries about Greece’s debt crisis triggered buying by investors looking for a safe place to park assets.

Reuters reports gold hit its highest in more than three weeks as worries about Greece’s debt crisis triggered buying by investors looking for a safe place to park assets.

The market news is quoted as saying,

Spot silver was bid at $38.04 an ounce from $37.24 late on Thursday, platinum at $1,785.49 from $1,764.85 and palladium at $755.72 from $751.45.

“We believe that the cash cost of the marginal producer is still the relevant benchmark to judge whether platinum and palladium provide value or not,” Standard Bank said in a note.

“Therefore, the market could trade lower, fundamentally growing value in platinum and palladium on approach of $1,700 and $700 respectively.”

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MARKETS

Markets
TSX19506.65+156.99
TSXV572.22+4.96
DOW33241.56+37.63
S&P 5003829.25-15.57
NASD10353.23-144.64
ASX7107.70-44.80

COMMODITIES

Commodities
Gold1811.59-0.78
Silver23.99-0.02
Copper3.85+0.01
Palladium1827.13-5.87
Platinum1018.50+4.50
Oil79.89+0.36
Heating Oil3.33+0.02
Natural Gas5.02-0.26

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