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The spot price of palladium during trading rose on Tuesday by 1.8%, amounting to 1,144.5 dollars per troy ounce. The rise in the value of the metal to the intraday historical maximum was caused by increased demand from hedge funds on fears of a palladium supply shortage. Experts expect that the stimulus measures taken by China, the main global consumer of palladium, may increase the demand for this metal. Economists at Citigroup predict a continued palladium deficit in the global market until the end of 2020. According to their estimates, this year the demand for the metal will exceed supply by 481 thousand ounces. The cost of palladium since the beginning of 2018 has grown by about 7%.
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
The second quarter had seen South Korea slipping into recession. This came to be the country’s sharpest economic downturn in more than two decades as the novel coronavirus crisis weighed on exports and social distancing measures halted ...
The euro reached its highest level since early March after the European Union agreed on a deal for a massive stimulus package to support the bloc’s economy from the coronavirus pandemic. The deal was finalized after a round of compromises ...
June had seen Japan’s wholesale prices dropping slower than May’s historic decline. This followed as commodity costs advanced and some of the virus-driven deflationary pressure eased on a rebound monitored in Chinese demand. The ...
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