| Palladium’s recent price fall is exaggerated and there is now room for short-covering and bargain hunting, market participants said. The metal fell to a low of $530 this morning – its cheapest since September 2010 – and was last at $550/555 per ounce, down $16 on Monday’s close.
Palladium prices have fallen 15 percent since Friday’s opening level – it is the hardest hit of the precious metals in the global crash that was triggered by renewed fears about the slowing Chinese economy. “[But] the extent of the price slide is exaggerated – after all, demand will grow this year despite a slowdown in the automotive industry,” Commerzbank said in a note, attributing the fall in the metal’s price mainly to speculative selling...............................................Full Article: Source
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