Palladium prices fell nearly 13% on Monday as China's COVID-led lockdowns soured the demand outlook for the autocatalyst, while looming U.S. interest rate hikes took the shine off gold.
Spot palladium fell 9.6% to $2,146.20 per ounce by 1:52 p.m. ET , after hitting its lowest since March 29 at $2,068.82.
"Much of the angst in palladium is surrounding the potential problems with the Chinese economy," said head of commodity strategies at TD Securities, Bart Melek.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HBO and HBO Max added 13 million subscribers last year, as Netflix’s growth slowedHBO Max is still way behind Netflix in total subscribers
Read more »
13 TV Moments From This Week That We Can't Stop Talking AboutThe Flight Attendant returned with Season 2, and Kaley Cuoco is already crushing it.
Read more »
The 13 Best Slippers With Arch Support 2022, According to PodiatristsExperts agree–you should not be walking at home barefoot.
Read more »
The iPhone 13 Pro and 13 Pro Max sell like hot cakes, so Apple is making 10 million moreThe iPhone 13 Pro has proved immensely popular and Apple couldn't catch up with production.
Read more »
13 Nassar victims seeking $130M from FBI over bungled probeThirteen sexual assault victims are seeking $10 million each from the FBI.
Read more »
13-Year-Old Minnesota Physics Student Soon to Graduate From College With Bachelor's DegreeElliott Tanner is maintaining a 3.78 grade point average at the University of Minnesota and is participating in undergraduate research while also tutoring classmates
Read more »