Palladium touches 11-month high
Palladium prices climbed to an 11 month high of $274.50 an ounce on Tuesday, as dollar weakness and growing investor risk appetite boosted the precious metals complex.
Palladium prices climbed to an 11 month high of $274.50 an ounce on Tuesday, as dollar weakness and growing investor risk appetite boosted the precious metals complex.
Palladium’s gains were snapped last Friday as the greenback rallied. The precious metal came under pressure as a study from the University of Michigan showed an unexpected increase in consumer confidence. This reduced the metals “safe-haven” appeal.
This week, palladium finally began to follow gold and lose some of its safe haven appeal. After holding steady and resisting gold’s sell-off, platinum and palladium have finally succumbed, dropping rapidly in this morning as poor auto industry numbers rolled in.
Get our independent commentary on palladium trends and companies delivered to your inbox.