The Pd-price on NYMEX for the first time since February 2014 fell below USD 700.

23.06.2015 / 13:33

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Palladium is mainly used in electrical (metal not corrode), for making surgical instruments, as a catalyst in some chemical industries, and also in jewelry.

The alloy of palladium and gold most often with copper is used for coloring gold in jewelry and it is known as white gold. As the palladium precious metal displaces even the electrical galvanic gold, dental as well as in the manufacture of some coins. Palladium is also widely used in alloying, of titanium.

The main mining locations are in Russia, South Africa, USA, Canada. Also in Australia and Colombia.

Yesterday the price of a Pd on NYMEX for the first time since February 2014 fell below the support level at USD 700 per oz. Transactions with active futures (September) on Palladium fluctuate in a range between USD 690,20 and USD 708,20.

Price movement remain strongly negative. It is visible the sharp drop in demand. It is associated with speculative tradings as well as correlation to industrial demand for platinum. For the period from 28 May to 22 June the price has fallen by over USD 80. Today observed intraday recovery to USD 703,50, but strong downtrend is obvious.

Jr.Trader G.Hristov

Varchev Traders

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The Pd-price on NYMEX for the first time since February 2014 fell below USD 700.

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