Palladium drops 1% on global demand concerns

2021-11-23 15:25:20 GMT (Economies.com)
Palladium drops 1% on global demand concerns

Palladium prices fell on Tuesday, while the US dollar held against most currencies, amid fears over a weak global demand.

 

Palladium and platinum prices were lifted recently by the continuing crisis of electronic chips, which hindered the global auto industry and lowered the demand for the metals used in this industry.

 

Palladium is heavily used in the manufacturing of car components that reduce polluting emissions, and also in the manufacturing of electric cars, and demand has increased in recent years due to efforts to combat the global climate change.

 

The dollar index fell against a basket of major currencies by less than 0.1% to 96.5 points as of 14:30 GMT, after hitting a high of 96.6 points and a low of 96.3 points.

 

Palladium December futures fell 1.3% to $1,925.5 an ounce as of 14:31 GMT.

 
 
 
  Symbol Last Change Chg.%
1.1311
0.0041
0.3638%
1.3314
0.0004
0.0327%
Tadawul
10810.60
-60.02
0.55%
22.924
-0.121
0.523%
68.773
-3.628
5.011%
72.89
-0.58
0.79%
1793.655
8.565
0.480%
 
 
Live Forex Updates