{"id":33057,"date":"2024-06-25T18:12:11","date_gmt":"2024-06-25T18:12:11","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/whats-going-on-with-palladium-prices\/"},"modified":"2024-06-25T18:12:11","modified_gmt":"2024-06-25T18:12:11","slug":"whats-going-on-with-palladium-prices","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/whats-going-on-with-palladium-prices\/","title":{"rendered":"What’s going on with Palladium prices?"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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The price of palladium experienced a significant drop on Tuesday, falling 5.53% to $925.78 per ounce. <\/p>\n

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This decline came after the metal reached almost a month-high on Monday, only to surrender those gains as demand appeared to stall and the dollar strengthened.<\/p>\n


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The downturn in palladium prices was part of a broader decline in the precious metals market. <\/p>\n

Gold also saw a decrease, falling 0.37% to $2,325.62 per ounce, while silver dropped 1.36% to $29.18 per ounce. Platinum lost 0.89%, selling for $989.33 per ounce at the same time.<\/p>\n

This broader decline in precious metals is partially attributed to a stronger dollar, which rose 0.3% to 105.9, with a session-high of 105.9 and a low of 105.5. <\/p>\n

A stronger dollar typically makes commodities priced in the currency more expensive for foreign buyers, thereby reducing demand.<\/p>\n

Palladium and Apple: what\u2019s the link?<\/h2>\n


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Palladium prices had been on an upward trajectory, with a notable 3% surge last Friday, marking three-week highs and making it the best performing precious metal of the day. <\/p>\n

The upward trend continued into Monday, driven by technological advancements and new semiconductor developments. <\/p>\n

Apple Inc.\u2019s announcement of its new M5 semiconductor for its Mac gadgets and a report that ByteDance Ltd. and Broadcom Inc. are collaborating on an AI-powered semiconductor bolstered palladium\u2019s price by over 4% to $992.79 per ounce early Monday.<\/p>\n

The surge in palladium prices also reflected broader market optimism about the continued use of internal combustion engines, where palladium is a critical component. However, the rapid shift towards electric vehicles (EVs) is likely tempering this demand, leading to volatility.<\/p>\n

Technical outlook<\/h2>\n


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Despite the recent surge, palladium\u2019s price pierced the 200-day simple moving average (SMA) line and continued to face resistance at the $950 mark. <\/p>\n

A breach above this resistance could push prices towards the next level at $970. <\/p>\n

However, the current downturn underscores the metal\u2019s vulnerability to shifting demand dynamics and broader economic factors.<\/p>\n

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(Originally posted on : Invezz ) The price of palladium experienced a significant drop on Tuesday, falling 5.53% to $925.78 per ounce. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals\u2122 for FREE. Takes 2 mins. This decline came after the metal reached almost a month-high on Monday, only to surrender […]<\/p>\n","protected":false},"author":3947362359,"featured_media":33058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[38],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33057"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362359"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33057"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33058"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}