Palladium soared to a record high on Tuesday, fueled by speculative interest and tight supplies of the autocatalyst metal, briefly surpassing bullion, which scaled to more than a five-week peak as the dollar slid.
Spot gold was up 0.6 percent to $1,237.81 per ounce after earlier hitting $1,241.86, the highest price since Oct. 26. U.S. gold futures settled up 0.56 percent at $1,246.60 per ounce. Palladium climbed 2.3 percent to $1,230.70 per ounce, having earlier jumped to an all-time high of $1,239.50.
The metal, used mainly in emissions-reducing auto catalysts for vehicles, has gained about 49 percent since mid-August.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, focusing on the reprocessing of historical mine waste and surface materials. Their projects in South Africa include the Hernic Platinum Project, DCM Platinum & Chrome Project and the PlatCro Platinum Project.