Palladium May Rise on U.S., European Sovereign-Debt Concern

Jul. 28, 2011 06:15AM PST

Bloomberg reports that precious metals demand may rise as concern that the U.S. and Europe will struggle to contain their debt spurs safe haven investments.

The market news is quoted as saying,

Silver for September delivery in New York fell 0.9 percent to $40.22 an ounce after yesterday climbing to a 12-week high of $41.465. Palladium for September delivery slipped 0.4 percent to $830.05 an ounce after touching a five-month high of $847.55 yesterday. Platinum for October delivery was down 0.9 percent at $1,791 an ounce. It reached a six-week high of $1,823 yesterday.

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