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IPMI and Industry News: Palladium Market News

After the rout, platinum and palladium face more turmoil before recovery

Wednesday, March 18, 2020   (0 Comments)
Posted by: Matt Watson
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Commodities  March 18, 2020 / 8:55 AM

After the rout, platinum and palladium face more turmoil before recovery


LONDON (Reuters) - Platinum and palladium will remain turbulent in coming months after huge losses sparked by the spread of coronavirus, before starting a tentative recovery with support from palladium’s supply gap and platinum’s correlation with gold, analysts said.

Platinum has plunged 40% and palladium 45% from February highs as efforts to contain coronavirus stifled the global economy and turmoil in wider markets forced investors to sell precious metals for emergency cash.

On Monday, platinum suffered its biggest one-day fall on record and touched $558 an ounce – the lowest since 2002 – while palladium tumbled from a record high of $2,875.50 to some $1,500 an ounce.


Read the full article at:  https://www.reuters.com/article/us-metals-precious-platinum-palladium/after-the-rout-platinum-and-palladium-face-more-turmoil-before-recovery-idUSKBN2152S4

 

 

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