Platinum on track for second weekly gains as dollar backs off three-week high

2018-12-07 16:19:46 GMT (Economies.com)
Platinum on track for second weekly gains as dollar backs off three-week high

Palladium prices rose nearly one percent in American trade to near record highs as the dollar index fell off November 13 highs for the sixth session out of eight, following earlier payrolls data from the US today. 

 

As of 03:24 GMT, palladium rose 1.07% to $1,224.02 an ounce, while the dollar index dipped 0.09% to 96.72 away from three-week highs, after marking recent record highs at $1,261.80. 

 

Earlier US data showed the unemployment rate steadied at 3.7% in November as expected, the lowest since 1969. 

 

US average earnings rose 0.2% in November, missing estimates of 0.3% and matching the pace of October. 

 

The US economy added 155 thousand new jobs in November, missing estimates of 198K, and compared to October's 237K increase, revised from 250K. 

 

Wholesale inventories rose 0.8% in October, above 0.4% in September and past estimates of a 0.7% increase. 

 

Finally, the University of Michigan released its consumer sentiment survey, which came at 97.5, same as November and beating estimates of 97.5.

 
 
 
  Symbol Last Change Chg.%
1.1305
-0.0092
0.8081%
1.2587
-0.0116
0.9120%
14.564
-0.057
0.386%
51.211
-1.034
1.980%
60.23
-1.17
1.91%
1238.250
-9.790
0.784%
 
 
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