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Gold, Palladium premiums over Platinum widen

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NEW YORK (Scrap Register): Platinum prices have fallen back below $900 an ounce and its discount to palladium and gold have widened, pointed out Commerzbank.

Gold’s premium over platinum has widened to around $400 an ounce. The price discount of platinum as compared to palladium has likewise increased again to around $125 per troy ounce.

Besides good fundamental data – car sales in the U.S. and China were robust in May – the technical picture for palladium has improved noticeably recently, which has clearly attracted further buyers and lent support to the price, Commerzbank added.

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