Palladium falls over 3% on global recession concerns

Economies.com
2023-01-17 15:15PM UTC

Palladium prices fell on Tuesday even as the dollar declined against most major rivals, however industrial metals faced pressures due to expected global recession. 

 

International Monetary Fund President Kristalina Georgieva said she expected the global economic growth to slow down to 2.7% in 2023. 

 

The global economy continues to face challenges amid the Russian-Ukrainian war and the European energy crisis and uncertainty about China.

 

Palladium is used quite heavily in the cars and electronics industry alongside other industrial metals.

 

The dollar index fell 0.1% as of 15:03 GMT to 102.1, with a session-high at 102.5, and a low at 101.9.

 

Palladium futures due in March fell 3.1% as of 15:04 GMT to $1,732.5. 

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