Palladium Prices Hit Two and a Half Month Low

Reuters reported that palladium prices fell to their lowest in two and a half months. Pressure on the metal came on the back of expectations of a rate hike from the US Federal Reserve.

As quoted in the publication:

Palladium and its sister metal platinum have been under pressure for much of this year from expectations that soft demand for the metals from carmakers, who use them in catalytic converters, will be outstripped by ample supply.

At 0939 GMT spot palladium was down 0.5% at $738.65/oz, having earlier touched a low of $736.00. It has fallen 7% so far this year.

Click here to read the full Reuters article.