Platinum is Starting to Catch-Up to Gold and Palladium is Gaining Momentum

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July 29, 2016 -- Gold and silver each got a boost Wednesday following the Federal Reserve’s decision to leave its benchmark interest rate unchanged. The odds of the Fed doing anything before the election now appear to be slim to none.

Meanwhile, the platinum group metals continue to gain upside momentum. And it looks like platinum could start to play catch-up versus gold and even get back to parity at least with the the gold price.

It was a banner week for the industrial metal. Platinum is up 5% since last Friday’s close and and currently trades at almost $1,140 per ounce.

Meanwhile palladium is advancing for the sixth straight week to bring spot prices to $700, a gain of another 3%.

Live prices at MoneyMetals.com show gold currently trading at $1,342.75 per ounce on the global market, and silver is coming in at $20.23.

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