Since the beginning of 2019, palladium has risen in price by 30%. In January, its price reached the highest level among all precious metals for the first time since 2002, surpassing the price of gold. In June, its price increased by 16% and now amounts to approximately 1,555 dollars per ounce. This is almost 140 dollars higher than the price of gold. Experts predict continued growth in the price of palladium, which will be promoted by such factors as the weakening of the dollar and the implementation of plans by many states to reduce harmful emissions from the operation of engines of new car models. Uncertainty about the growth rate of the global economy forces investors to transfer money into safe assets, and the demand for precious metals increases. Despite the weakening of global auto sales, the tightening of emission requirements for their engines increases the demand for palladium. Thus, in recent months, there has been an increase in imports of palladium to Hong Kong amid a tightening of emission standards in China. Prices for this precious metal have been pushing up the demand for palladium in excess of the supply over the past few years. Its output in 2018 declined by almost 7%, and the palladium deficit is predicted for the future in the world market.
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
June had seen China’s factory gate prices falling for five consecutive months. This could be attributed to the novel coronavirus crisis dragging industrial demand. However, improvements monitored in some parts of the sector indicate ...
Germany’s contribution to the European Union’s budget would rise by 42% or 13 billion Euros ($14.63 billion) annually in the coming years, the German national daily newspaper Die Welt reported on Monday. Government calculations ...
Early Tuesday saw European stocks push lower, resulting from signs of a weakening German economy, the region's industrial powerhouse. The DAX in Germany traded 0.9% lower at 3:55 AM ET (0705 GMT). Also experiencing the plunge are France's ...
Global shares advanced on Monday after an unexpected recovery in U.S. employment. This made investors optimistic that global economies could recuperate faster than previously thought. Oil prices fell flat after OPEC and its allies, including ...