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Palladium Posts New Record in December Start; Gold and Silver Decline
Palladium futures logged another record in their start on Monday to the new trading week and month. Other metals, however, declined. Gold for February delivery shed $3.50, or 0.2%, to settle at $1,469.20 an ounce on the Comex division of the New York Mercantile Exchange. "A sudden rise in risk aversion among market participants on Friday allowed the gold price to gain by a good $10 to $1,465 per troy ounce in a matter of hours," MarketWatch quoted Daniel Briesemann, analyst at Commerzbank, in a note. "Relatively good Chinese data" caused the gold prices to correct again on Monday, he added. Gold futures ranged from ... (full story)