Palladium rises slightly amid focus on global economic growth

Economies.com
2019-04-02 14:04PM UTC

Palladium prices rose slightly on today's trading, as investors waited for more data from major economies to reassure them about the growth of the global economy.

 

Chinese government data showed on Wednesday, that China's manufacturing activity recovered in March for the first time in four month., .

 

Meanwhile, the World Trade Organization warned about the harmful effects of the imposition of customs tariffs between the two largest economies in the world and their impact on the global demand for goods.

 

Otherwise, by 13:50 GMT, the dollar index (against a number of major currencies) stabilized by 97.3 points, the highest level at 97.4 points, and the lowest at 97.2 points.

 

Analysts say the Palladium bubble has exploded after the metal fell sharply from a record high, but others see room for palladium to rally further on the strong demand from automakers on the metal.

 

In terms of trading, by 13:51 GMT, palladium futures (June delivery) rose by 0.1% to $1393.6 an ounce, and hit a high of $1408.5 and a low of $1364.8.

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