Gold prices settle up by more than 1% for the week; palladium sets another record.

Gold prices climbed Friday to tally a 1.2% gain for the week. U.S. and European stock indexes declined and the dollar softened for the week, providing a boost to prices of the yellow metal. December gold was up by $8, or 0.7%, to settle at $1,223 an ounce. Palladium futures, meanwhile, settled at another record on expectations for much stronger demand. It’s estimated 100 million cars per year are expected by 2019. That requires more palladium, which is used in pollution-control catalytic converters on gasoline-powered vehicles. December palladium added $17.20, or 1.5%, to finish at $1,154.60 an ounce.

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