Bengaluru — Tight supplies and a robust demand helped Palladium hold above $1,400/oz on Friday after surging to record levels in the previous session, while gold stood firm amid uncertainty around the partial US government shutdown. Spot palladium had risen 1% to $1,410.50/oz by 3.37am GMT, having hit a record high of $1,434.50 on Thursday. The metal is on track to climb for a fourth week in its strongest weekly gain since the week ending September 21. It has risen about 12% so far this month. The price of palladium, used mainly in emissions-reducing catalysts for vehicles, has leaped nearly 70% since mid-August. Prices for the metal overtook gold for the first time in 16 years early in December. “This is the eighth consecutive year where palladium is going to be in deficit and there are no signs that it is going to go away,” said Dominic Schnider, head of commodities and Asia-Pacific forex at UBS Wealth Management in Hong Kong. “The question people need to ask here is how long it w...

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