Palladium Leads Precious Metals Jump as Gold Gains, Dollar Drops

Precious metals surged as investors weighed the outlook for U.S. interest rates, with gold climbing for a second day and palladium jumping by the most since 2010 as the dollar retreated. Gold for immediate delivery climbed as much as 1.1 percent to $1,355.41 an ounce and traded at $1,354.14 at 2:52 p.m. in Singapore, according to Bloomberg generic pricing, as a gauge of the U.S. currency fell to a one-week low. Palladium climbed as much as 7.6 percent to $746.38 an ounce, the highest level since June 2015.  “Probably, the weaker dollar is pushing up gold and silver, and also platinum and palladium are being pushed up by that,” Tetsu Emori, president of Emori Capital Management Inc., said by phone from Tokyo.