The prices of precious metals advanced on Monday, with palladium surging by more than 4% as Apple Inc. announced the production of its new M5 semiconductor that will be embedded in the new lines of Mac gadgets. Additionally, it was reported that ByteDance Ltd. and Broadcom Inc. are working on a new artificial intelligence (AI)-powered semiconductor.
Palladium, which is used for making chips, soared by 4.06% at 4:16 am ET to sell for $992.79 per ounce. Simultaneously, gold increased by 0.40% to go for $2,331.15 per ounce. Silver gained 0.50% to sell for $29.69 per ounce. A minute later, platinum grew by 1.27%, going for $1,006.35 per ounce.