Palladium hits new 18-month high above $459/oz

TOKYO | Mon Jan 18, 2010 6:25pm EST

TOKYO Jan 19 (Reuters) - Spot palladium inched higher to rise above $459 per ounce to a fresh 18-month high on Tuesday, helped by the launch this month of a new U.S.-based exchange-traded fund backed by the metal.

Spot palladium XPD= rose as high as $459.50, the highest since July 2008. (Reporting by Chikako Mogi)

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