Palladium prices rallied on Monday, as the weaker dollar encouraged a recovery in the commodities prices after heavy losses last week. Bargain hunting after last weeks lowest price point was hit drove spot palladium to an intraday high of $197 an ounce, more than a five percent rally.
Palladium spot prices remained unchanged on the NYMEX today after the Dow Jones market rally of Oct. 13.08. Some precious metals such as gold suffered losses today as "safe haven" investing in precious metals and other, traditionally "safe" investments, took a backseat due to rebounding market conditions. Today, the market rally calmed as investors stopped to assess the current market climate before re-entering as buyers.
Palladium and other precious metals commonly used in industrial applications, such as platinum and silver, showed small improvements today, although the strength of the US dollar has been affecting their market values in the recent past.
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