Precious Metals: Palladium Dips on Increased Auto Sales Forecast

Reuters reported on precious metals trading on Tuesday noting palladium dipped for the day despite General Motors announcement it is increasing the auto sales forecast for the year.

As quoted in the market news:

Platinum group metals investors are digesting news General Motors Co and Ford Motor Co both reported a smaller-than-expected decline in U.S. new vehicle sales in April. GM, the largest U.S. automaker, raised its full-year forecast for the industry due to a strengthening economy.

Platinum was up 0.3 percent on the day at $1,566.80 an ounce, while palladium edged down 0.2 percent at $676.75 an ounce.

Click here to read the full Reuters report.