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Gold slips on rate hike views; palladium barges higher


By K. Sathya Narayanan(Reuters) - Gold slipped on Wednesday on expectations of more interest rate hikes following remarks from a U.S. Federal Reserve official and as some investors booked profits after prices hit their highest in more than five weeks.Palladium, on the other hand, surpassed the bullion for the first time in about 16 years, to hit a new record high of $1,263.56 per ounce as higher speculative interest and larger supply deficit boosted the auto-catalyst metal.Spot gold was down 0.2 percent at $1,236.11 per ounce at 13:45 p.m. EST (1845 GMT). U.S. gold futures settled down $4, ...

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First Published: Thu, December 06 2018. 04:30 IST