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24 Hour Spot Palladium
Palladium ‘vulnerable’ due to macro uncertainty, negative investment flows
According to Barclays Capital, Palladium could be “vulnerable ” in the short term. Shortly after 8 a.m. EST, Nymex March palladium was $7.45 softer at $678 an ounce after previously rallying strongly from the November close of $612.60. The amount of metal held by global exchange-traded products was unchanged Wednesday but remains at the lowest level since March of 2010, Barclays added. Net redemptions for the year to date have reached 567,000 ounces. This has exacerbated a market which has been swung into surplus on the back of continued Russian state stock releases. “We do expect the market to swing back into deficit next year as stocks are exhausted; however, the near-term outlook remains vulnerable given the macro uncertainty and negative investment flows,” Barclays concluded. – CommodityOnline
Spot palladium lost 0.9 percent to $665.22 today
Spot palladium lost 0.9 percent to $665.22, but headed for a 4-percent rise on the week, its second week of gains in a row. Precious metals prices 0310 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1712.39 4.60 +0.27 20.64 Spot Silver 31.70 0.07 +0.22 2.72 Spot Platinum 1494.49 3.49 +0.23 -15.45 Spot Palladium 665.22 -5.78 -0.86 -16.80 TOCOM Gold 4286.00 -61.00 -1.40 14.94 42750 TOCOM Platinum 3761.00 -39.00 -1.03 -19.91 8930 TOCOM Silver 78.20 -2.10 -2.62 -3.46 315 TOCOM Palladium 1670.00 -32.00 -1.88 -20.36 326 COMEX GOLD FEB2 1717.00 3.60 +0.21 20.80 6736 COMEX SILVER MAR2 31.76 0.22 +0.70 2.65 947 Euro/Dollar 1.3331 Dollar/Yen 77.68 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months
