AP: Palladium up nearly 10 pct, precious metals rally
LONDON, Oct 29 (Reuters) - Palladium climbed nearly 10 percent on Wednesday to a two-week high of $193 an ounce, tracking rising gold and silver prices, as the dollar weakened and oil rose more than $3 a barrel.
The metal, which has shed around 50 percent of its value in the last three months on fears over falling demand, is benefiting from a perception the sell-off has been overdone, traders said.
At 1357 GMT, palladium was quoted at $190/200 an ounce, up from $176 late in New York on Tuesday. Gold and silver prices rallied 3 percent and 6 percent respectively in earlier trade.
(Reporting by Jan Harvey; editing by Anthony Barker) Keywords: PALLADIUM RALLY tf.TFN-Europe_newsdesk@thomson.com ak
