Palladium declines below $1,800 an ounce

Economies.com
2022-12-28 15:43PM UTC

Palladium prices fell on Wednesday even as the dollar stabilized against a basket of major rivals, however, industrial metals remain under pressure due to Chinese concerns. 

 

‏Covid 11 infections continue to spread in multiple Chinese cities with speculation about a new wave in the country that could raise concerns considerably. 

 

The Chinese government recently announced that incoming travellers won't have to quarantine when arriving, starting in 2023.

 

China is the world's largest industrial metals consumer, however demand is expected to decline as infections spread once more. 

 

The dollar index settled at 104.1 as of 15:30 GMT, with a session-high at 104.3, and a low at 103.8. 

 

Palladium futures due in March fell 2.3% to $1,784 an ounce as of 15:31 GMT. 

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Oil Analysis

Commodities

End of day crude oil price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Crude oil price breached 82.40$ strongly to rally upwards and approach our waited target at 83.56$, ...
Gold Analysis

Commodities

End of day gold price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Gold price rallied upwards strongly to succeed touching our waited target at 2222.86$ and attempts ...
Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...