Palladium Near 16-Year High, Gold Steadies Ahead Of Fed Meeting

Strong speculative demand kept palladium near 16-year highs on Monday, though weak fundamentals are soon expected to take their toll on prices of the metal, which is used to make autocatalysts for gasoline-fuelled cars. Meanwhile, gold was little changed ahead of a U.S. Federal Reserve policy meeting on Tuesday and Wednesday, with analysts saying the U.S. central bank could take an aggressively hawkish posture of signalling a balance sheet reduction later this year and another interest rate increase in December.

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