Palladium looked to suffer a sixth decline in a row on Tuesday, with prices trading under $2,000 an ounce and headed for their lowest finish in over 14...
Palladium looked to suffer a sixth decline in a row on Tuesday, with prices trading under $2,000 an ounce and headed for their lowest finish in over 14 months as global computer chip shortages hurt demand for the metal in car manufacturing.
The auto industry has taken a hit as a global shortage of computer chips leads to a slowdown in manufacturing, which in turn weakens demand for metals used to make cars, including palladium. Palladium had climbed to their highest price on record at $2,981.40 on May 3, according to Dow Jones Market Data. It’s fallen more than 30% from that record.
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