Palladium sinks with industrial metals as trade tensions mount

Palladium prices fell during today's as industrial metals are under pressure and heavy sell-off as a result of the US-China trade dispute and its negative impact on global demand.

China's Ministry of Commerce has denied the US administration claims  by Donald Trump, in which he said that Beijing has left behind the agreed commitments during the 10-month trade negotiations.

Beijing pledged to respond to the expected US action of raising tariffs on imports of Chinese goods worth $200 billion to 25% from 10% on Friday.

The Office of the US Trade Representative yesterday announced a formal request to activate the decision of President Trump to enter into force on Friday.

Meanwhile, the dollar index (against a number of major currencies) fell by 0.3% to 97.3 points at 14:07 GMT, reaching a high of 97.7 points and a low of 97.2 points.

Palladium futures (June delivery) fell by 2.8% to $1269.2 an ounce, the highest price of $1317.4 and the lowest price at $1256.5.