Palladium sharpens decline to below $1000 an ounce

Economies.com
2023-12-08 16:57PM UTC

Palladium prices fell on Friday as the dollar rose against most major rivals, sharpening losses to below $1000 an ounce near five-year lows.

 

Chinese government asserted its plans to boost local demand and economic recovery in 2024, with Chinese passenger car sales surging by 25.5% in November. 

 

Chinese exports grew for the first time in six month during November, with copper imports growing 10.1% to two-year highs. 

 

At the London Exchange, aluminium rose 1.1% to $2156 a tonne, while nickel rose 1.8% to $16,810, as zinc rose 0.5% to $2419, while lead rose 0.8% to $2034, while tin added 0.3% to $24750. 

 

Otherwise, the dollar index rose 0.5% as of 16:41 GMT to 104.06, with a session-high at 104.2, and a low at 103.4. 

 

Palladium March futures rallied 3.2% in American trade as of 16:41 GMT to $949.5 an ounce. 

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