Palladium extends losses to near $2000

Economies.com
8 months ago

Palladium prices declined on Tuesday as the dollar  rose against major rivals. 

 

The decline comes as dollar strengthens to 20-year highs at 103.8, with a 0.1% gain so far.

 

A stronger dollar hurts palladium and other currencies and makes them costlier to holders of other currencies. 

 

The Fed announced last week a hike of 50 basis points in interest rates to below 1%, the largest such hike since 2002,

 

Investors are concerned such policies are leading the world to global recession and lower demand on commodities. 

 

China

 

China remained under lockdown due to a new Covid 19 infectious wave, in turn hammering trade and industrial demand.

 

Palladium futures due in June fell 0.4% to $2,036 an ounce as of 14:34 GMT.

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