Weekend Review: US Reaches A Deal With China As Palladium Moves Above $1200

On Friday, the price of palladium soared to almost $1200 a ounce. This was a big news for the metal used as a catalytic converter in gasoline cars. This is because its spread with gold narrowed to less than $50. The metal is the best-performing this year having gained by more than 15%. From August, it has gained by more than 30%. Platinum on the other hand has been left in the dust. This is despite of the fact that the two metals are mined in similar countries and are used in similar activities.

Over the weekend, the talk of Brexit took a pause as Theresa May attended the G20 meeting. This week, she will continue her campaign for the deal in the hopes that her conservative MPs will vote for it. This will be unlikely because of the backstop issue and that of North Ireland.

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