Palladium extends losses to below $1,200
2023-09-06 15:27PM UTC

Palladium prices fell on Wednesday as the dollar index rose against most major rivals and amid concerns about Chinese demand.


Chinese services expanded by the slowest pace in eight months during August, which shows the economy overall is decelerating markedly. 


Metals were recently boosted by dollar's decline in recent weeks, however as US data proves strong especially export data, the dollar resumes its gains, in turn heaping pressure on metal prices. 



Otherwise, the dollar index rose 0.2% as of 16:24 GMT to 105.01, with a session-high at 105.02, and a low at 104.5.


On trading, palladium futures, used extensively in the automotive industry to reduce exhaust fumes, fell 1.5% as of 16:16 GMT to $1,195 an ounce. 

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