Gold and Silver are Down — But Palladium's at a 13-Year High

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Gold is often credited with playing a "haven" role for investors. But sometimes it's sheer supply and demand which drives metal prices -- something that's underscored by palladium's surge to a 13-year high.

Gold, down in four of the last five weeks, is off again Monday, with the most actively traded futures contract shedding 0.5% to just under $1,300. The slowdown in emerging-markets demand, and uneven Western investment demand, are two key reasons. Silver also is plumbing fresh two-month lows.