Current Market Climate The proposed bailout of bad debts by the U.S. Treasury is being hotly debated in Congress: this debate is affecting commodity spot prices and stock market share prices all over the world. As government officials ponder the wisdom of assisting banks and investment houses by spending over 700 billion dollars purchasing bad [...]
The stock market events of Sept. 15, 2008 have impacted all commodities markets, including precious metals such as palladium and platinum. Investors are unloading commodities at a rapid pace, in an attempt to seek safer investments.
The decline in auto industry sales is having a profound effect on palladium values in the world market. Palladium and platinum are used in catalytic converters and other auto parts: the demand for the precious metals is slackening as a result of higher gas and oil prices.
Palladium futures for December delivery fell $16.90 to settle at $272.90 an ounce on Friday. For more information, click here
Ahead of the long U.S. Labor Day weekend, many traders are already squared up or leveling out positions in quiet late-summer trading. John Person, president of NationalFutures.com, said: Nobody wants to hold a short position over the weekend. For more information, click here
Monday, September 29, 2008