Gold slides, palladium hits highest since 2001
Gold prices fell on Tuesday, under pressure from a stronger dollar ahead of an annual meeting of central bankers this week, while speculative buying pushed palladium to its highest since February 2001. Investors are waiting for speeches by European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen at Jackson Hole Wyoming, for clues to the direction of interest and currency rates. "Draghi could take the opportunity to downplay the idea of monetary tightening in the euro zone, which would have a dampening effect on the euro and lift the dollar," said Julius Baer analyst Carsten Menke.
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