Spot palladium rebounded on Monday, up more than 5 per cent from New York’s notional close of $168.00. Palladium hit $176.50 per ounce as technical buying emerged after demand worries stemming from an ambiguous auto industry vote hit platinum group metals on Friday.
The demand from the consumer needs to take off if palladium is going to gain any footing in the industry. The question is whether or not the industry is up for the challenge.
Even with the current price drops and uncertainty surrounding when they will make a turn around, some are still bullish about precious metals in the long-term. Given the recently doom and gloom headlines regarding the American economy, an end to the downward slide could be in sight.
Get our independent commentary on palladium trends and companies delivered to your inbox.
