Palladium jumps above $1,400 mark

Economies.com
2019-04-18 14:04PM UTC

Palladium prices rose during the day, as demand for the industrial metal continues to be strong and global supply is down this year.

 

Since the beginning of the current decade, speculation has suggested that palladium has a supply shortfall of more than 5 million ounces by the end of 2019, "Metal Focus" analysts said.

 

Analysts also added that they expected the palladium supply to drop to 13 million ounces by the end of the year, equivalent to a 14-month demand.

 

Palladium is used in the manufacture of parts in cars that reduce exhaust emissions and are accepted by companies in the industry as a result of tougher standards for combating climate change and air pollution.

 

In a related context, as of 13:51 GMT, the dollar index (against a number of major currencies) rose 0.3%, to 97.2 points, reaching a high of 97.4 points and a low of 96.9 points.

 

And in terms of trading, Palladium futures rose by 1.4% to $1,402.4 an ounce, with a daily high at $1,406.4 and a low at $1,359.0.

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...