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Gold set for fifth week of gains, palladium hits record

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Zandi ShabalalaNEW YORK/LONDON (Reuters) - Gold hit a four-month high on Friday and was on track for a fifth straight weekly gain as the U.S. dollar fell against the euro on an agreement for a political coalition in Germany. Palladium hit a record high in a continued rally fuelled by tight supplies and increased demand in the automotive industry for autocatalysts in gasoline-burning vehicles.Spot gold was up 1.2 percent at $1,338.39 an ounce by 2:19 p.m. EST (1919 GMT). The session high of $1,339.31 was its highest since September. Bullion is up 1.4 percent this week ...

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First Published: Sat, January 13 2018. 01:32 IST