Palladium drops nearly 5%, falls below $2,000 mark

2020-05-22 14:11:25 GMT (Economies.com)
Palladium drops nearly 5%, falls below $2,000 mark

Palladium futures fell on Friday, to give some the gains scored earlier during the week, falling below the $2,000 psychological threshold once again, as the US dollar rose against most currencies, in addition to fears of renewed tensions between the US and China.

 

The US Senate yesterday passed a bill that would prevent Chinese companies from listing their shares for public offering on the US stock exchanges.

 

This came after the Trump administration accused China of mishandling the coronavirus outbreak and blaming it for the global pandemic and the death of hundreds of thousands of victims.

 

The dollar index rose against a basket of currencies by 0.5% to 99.8 points as of 13:47 GMT, after it hit a high of 99.8 and a low of 99.3.

 

Palladium June futures fell 4.7% to trade at $1,970.5 an ounce as of 13:48 GMT, after hitting today's high at $2,077.8 and a low of $1,944.8.

 
 
 
  Symbol Last Change Chg.%
1.1237
0.0118
1.0608%
1.2577
0.0163
1.3110%
Tadawul
7222.41
-62.82
0.86%
17.642
-0.437
2.417%
36.742
2.255
6.539%
39.79
0.22
0.56%
1698.300
-34.385
1.984%
 
 
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