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.
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.
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