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· Palladium prices surged to a record on Tuesday, bolstered by worries about shrinking supply of the auto-catalyst metal, while gold rose on expectations that the U.S. Federal Reserve will maintain a dovish tone at its policy meeting this week.

Spot alladium was up 0.3 percent at $1,588.04 an ounce, as of 0435 GMT, after marking an all-time high of $1,592.02 earlier in the session.

· Spot gold, meanwhile, rose 0.3 percent to $1,307.02 per ounce, as the dollar languished near two-week lows hit in the previous session on growing expectations the Fed would shift to a more accommodative policy stance.

U.S. gold futures rose about 0.5 percent to $1,307.30.

· “Gold has been edging up and the main driver is a softening dollar,” said Margaret Yang, a market analyst with CMC Markets, Singapore. The Fed decision and Brexit vote could be gold boosters in the short term, she added.

“If the Fed is more dovish than expected, dollar is likely to move lower, and there is a lot of uncertainty surrounding Brexit with hedging demand for safety.”

· Prime Minister Theresa May’s Brexit plans were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in a fundamentally different form.

· Indicative of investor sentiment toward gold, holdings of the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose about 1.1 percent on Monday, its biggest one-day percentage gain since Jan. 18.

· GOLD TECHNICAL ANALYSIS