Palladium prices barely move despite Chinese stimulus measures
2023-09-15 15:05PM UTC

Palladium prices barely rose on Friday as the dollar lost ground against most major rivals, following fresh Chinese stimulus measures after the People's Bank of China cut reserve requirements for local banks to boost the economy. 


Such a step did help to improve the prices of many metals and commodities, with traders now awaiting crucial Chinese industrial production and retail sales data later.


Continuous concerns about supply shortages, and expectations that the Federal Reserve will maintain interest rates unchanged helped boost oil prices in particular this week. 


Higher interest rates raise costs of borrowing for consumers and corporations and weigh on growth and metals demand.


Otherwise, the dollar index fell 0.1% as of 15:51 GMT to 105.2, with a session-high at 105.4, and a low at 105.08. 


Palladium futures due in December rose 0.3% to $1251.5 an ounce as of 15:52 GMT.


Palladium is used extensively in the automotive and electronics industries, with particular use in reducing exhaust fumes. 

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