Gold at 3-week high on dollar; palladium hits 16-year high

Reuters/Eric Onstad/11-09-17

A weaker dollar pushed gold prices to a three-week high on Thursday, the second such climb in successive days, while palladium rose to a 16-year peak as speculators resumed buying.

…”The dollar is moving a bit lower because yields are under pressure,” said Georgette Boele, commodity strategist at ABN AMRO in Amsterdam.

“There should be more upside. I expect it to move back towards $1,300 by the end of the year, in line with some further weakness in the dollar.”

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