The Conversation (0)
A brief overview of palladium price developments, supply and demand, and significant market movers.
The palladium market remains weak and without any solid developments from which to gain direction.
Palladium prices attempted a rebound at the start of July, finding support from the news that in June US automakers’ sales held up despite concerns about macroeconomic conditions. Adding a further boost was the report that General Motors experienced record H1 sales in China. July 4 was the only day in the month that palladium rose above $600. The metal closed at $604.
For the next two weeks palladium traded in a tight range of $580 to $585 as investors appeared to be waiting for a prompt to action. Toward the end of July, palladium seemed to start taking direction from the movement of platinum prices, which came under pressure when Moody’s downgraded Germany’s credit rating. On July 25, palladium fell to $564, about a two-year low. But prices quickly started recovering and rose to close the month at $594.