SBSW - Gold nears $1800; palladium jumps to record high
Gold prices (XAUUSD:CUR) climb to near two-month highs, supported by sliding U.S. Treasury yields, and palladium (XPDUSD:CUR) rises to a record high on expectations that rebounding demand from automakers will exacerbate a supply shortfall.June Comex gold recently traded +0.9% to $1,794.60/oz., after earlier topping $1,797/oz. for its highest since Feb. 25, and June palladium +4.2% to $2,873/oz. after rising as much as 4.8% to $2,895.96/oz., exceeding the record set in February 2020.ETFs: [[GLD]], [[GDX]], [[NUGT]], [[IAU]], [[GGN]], [[PHYS]], [[DUST]], [[PALL]]Precious metal equities trade broadly higher, led by [[HMY]] +3.8%, [[SBSW]] +3.2%, [[NGD]] +2.6%, [[AUY]] +2.5%."Gold's pain over the last couple of months has been the rising Treasury yields, and now that has pretty much been alleviated," OANDA senior market analyst Edward Moya says.On palladium, "it's a confluence of factors," says Tai Wong, head of metals derivatives at BMO Capital. "Fundamentally, there's going to be a material deficit this year and
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Gold nears $1,800; palladium jumps to record high