Palladium hits record high, gold dips

BENGALURU, Mar 20 (Reuters): Palladium scaled a record peak on Wednesday due to a prolonged supply deficit, while gold slipped as the dollar gained ground ahead of a policy decision by the US Federal Reserve.

Spot palladium was down 0.3 per cent at $1,591.50 an ounce, as of 0908 GMT, after hitting an all-time high of $1,606.76 earlier in the session. Platinum was 1.3 per cent firmer at $856.75 an ounce, after touching its highest since March 4 at $858.64 earlier in the session.

Meanwhile, gold prices dipped as the dollar firmed, making bullion expensive for holders of other currencies.