Iran's Revolutionary Guard says it seized a British tanker in the Strait of Hormuz, claiming it failed to follow international marine regulations.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
Earlier this week, a lawyer said Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had "improper sexual contact" with at least one woman under the...Politicsread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
George Nader helped arrange a January 2017 meeting in the Seychelles between Erik Prince and the head of Russia's sovereign wealth fund, who reported directly to Vladimir...Politicsread more
These are the stocks posting the largest moves midday.Market Insiderread more
"I'm not hearing people blame the Fed as much as they're blaming tariffs," says CNBC's Jim Cramer.US Economyread more
* Palladium peaks at $1,491/oz, strongest on record
* Dollar slips on U.S-China trade optimism
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl
Feb 19 (Reuters) - Palladium scaled a record peak to within striking distance of the $1,500 level on Tuesday fuelled by a sharp supply deficit, while bullion rose 1 percent to hit a 10-month high on a weaker dollar and global growth jitters.
Spot palladium was up 1.3 percent at $1,476 per ounce by 1:15 p.m. EST (1815 GMT), having earlier soared to an all-time high of $1,491.
A sustained deficit in supply was likely to widen this year as stricter emissions standards increase demand for catalytic converters, Britain-based autocatalyst manufacturer Johnson Matthey said last week.
Adding to an already strained supply scenario for palladium, was the likelihood of an improvement in demand from the auto sector, given the expectations of a U.S.-China trade deal materializing, said Bart Melek, head of commodity strategies at TD Securities in Toronto.
"If we were already high and tight when the demand environment didn't look all that promising, we are certainly going to get tighter when demand improves," he said.
A new round of trade talks between Washington and Beijing was scheduled for Tuesday.
While both platinum and palladium are primarily used by automakers in catalytic converters, platinum is more heavily used in diesel vehicles, which have fallen out of favour since Volkswagen's emissions-rigging scandal broke in 2015.
Unlike platinum, palladium has benefited from the switch away from diesel engines and expectations for growth in hybrid electric vehicles, which tend to be partly gasoline-powered.
This has helped cushion the metal from falling car sales globally.
However, analysts said palladium has risen too fast too soon and was bound for a correction.
"Palladium is a bubble and is moving much above what fundamentals suggest," said Gianclaudio Torlizzi, managing director at consultancy T-Commodity in Milan.
Meanwhile, the dollar backed away from a two-month high hit last week on increasing optimism for a breakthrough in the trade talks, bolstering appeal for gold.
Spot gold gained 1.1 percent to $1,340.36 per ounce, having earlier touched its highest since April 20 at $1,341.18. U.S. gold futures climbed 1.6 percent to $1,343.4.
"We are getting more evidence of slowing (global) growth," said SP Angel analyst Sergey Raevskiy.
"There were some dovish comments from Bank of Japan and the European Central Bank."
Dovish signals from Japan's central bank and the ECB compounded worries over a global slowdown, and followed weak data from the United States and China.
Also, investors will scan the minutes of the U.S. Federal Reserve's last policy meeting on Wednesday for more guidance on interest rate increases this year. Higher rates tend to weigh on non-yielding gold.
Among other precious metals, platinum gained 1.6 percent at $814.50 per ounce, while silver rose 1.2 percent to $15.99. (Additional reporting by K. Sathya Narayanan in Bengaluru; editing by Jonathan Oatis and Marguerita Choy)