Palladium Dips Below $700 per Ounce

The Wall Street Journal reported that palladium fell to an eight-week low, descending below $700 per ounce, while futures for delivery in December dropped to $700.50 per ounce on the NYMEX.

As quoted in the market news:

The losses came as a major union representing striking South African gold workers softened its wage demands, potentially a sign of easing tension in the country’s massive mining sector.

The National Union of Mineworkers, which previously said it was demanding entry level wage increases of up to 60%, said it would now consider increases of about 15%, a union spokesman said.

Click here to read the full report from The Wall Street Journal.