Palladium slides to five-week low

Palladium prices fell on Thursday to a five-week low, heading for the fourth weekly loss in a row as demand wanes on commodities amid expectations for a U.S. rate hike.
 
Palladium last traded at $751.78 an ounce, down from the opening of $770.67, with a session-high at $771.60, and a low at $747.15.
 
Palladium's current drop comes amid expectations the Federal Reserve will hike interest rates next week, which would push liquidity away from the commodity markets to the banks to benefit from the higher rates.
 
On the other hand, palladium and other industrial metals were hurt by China's exports slump last month, threatening demand, while consumer inflation tapered off, heaping pressure on commodities.
 
The dollar fell today but palladium failed to benefit from it, with the index sliding to 101.82 from the opening 102.07, with a session-low at 101.69, and a high at 101.23.