Palladium ETF Holdings Fall as China Auto Sales Weaken

Palladium Investing

Bloomberg reported that palladium ETF holdings have been falling as vehicle sales in China have been on a downward trend. Palladium prices could be headed for the biggest annual loss since 2008, the news outlet reported.

Bloomberg reported that palladium ETF holdings have been falling as vehicle sales in China have been on a downward trend. Palladium prices could be headed for the biggest annual loss since 2008, the news outlet reported.
As quoted in the publication:

Holdings in exchange-traded products of palladium, used in auto pollution-control devices, have dropped for six straight weeks, the longest slump since data began in 2007. Vehicle sales in China, the world’s biggest metals consumer, fell to a 17-month low in July and barely rose in August. Futures slid to a five-year low Aug. 26, on the way to a third straight monthly decline.

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