Palladium declines below $1,900 towards an 11% monthly loss

Economies.com
2022-10-31 13:57PM UTC

Palladium prices fell on Monday on track for hefty monthly losses. 

 

Palladium gave up $2000 then $1,900 as the dollar spiked against a basket of major rivals, pressuring metals and commodities. 

 

Palladium and other industrial metals were also pressured by global recession forecasts as central banks continue to aggressive tighten monetary policies to control inflation.

 

Markets are also concerned about a return to very strict Covid 19 rules in China amid new waves of infections. 

 

The dollar index rose 0.6% to 111.4 as of 13:45 GMT, with a session-high at 111.4, and a low at 110.6.

 

Palladium futures due in December tumbled 4.1% to $1,819 an ounce as of 13:45 GMT, heading for a monthly loss of 11.5%. 

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