Palladium slips in first sessions of the third quarter

Economies.com
2020-07-01 13:49PM UTC

Palladium futures fell Wednesday, in the first session of the third quarter, as the coronavirus crisis continues.

 

Observers fear a second wave of coronavirus in the US and other countries, which could lead to a return of lockdown and restrictions on social distancing, which impacts the demand for commodities and metals, and pushes global GDP to recession.

 

The dollar index fell against a basket of currencies by 0.1% to 97.3 points as of 13:36 GMT, after it hit a high of 97.6 and a low of 97.2.

 

The US Federal Reserve will release later today the minutes of its last meeting, during which FOMC members discussed monetary policy, the state of the economy, and outlook.

 

Palladium September futures fell 2.1% to trade at $1925.3 an ounce as of 13:48 GMT, after hitting today's high at $1958.2 and a low of $1916.5.

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